Loan is an adjustable payment loan that uses the Cost of Savings
Index (COSI) to base its lending. The COSI or Cost of Savings
Index contains an average of interest checking, savings, and 3, 4,
and 5 year Certificates of Deposits or CD's. The COSI does
change monthly, while the margin remains fixed for the life of the
COSI loan, so your rate is comprised of the index and a fixed
margin. Also, you can expect that your payment will change
annually on a specific date with a COSI Loan.
of Savings Index has been exceptionally stable over the last ten
years and is attracted many borrowers in these uncertain times.
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