THE INTEREST ONLY MORTGAGE LOAN PROGRAM

Homeowners wishing to lower their monthly mortgage payment, or simply wanting to better leverage their home to 

invest the money elsewhere or pay off other debt, can opt for Vision's new loan feature that allows a 

borrower to make interest-only payments for a fixed period.  Available for 5 or 7 years.

Today's home buyers have a much better understanding about the benefits of home ownership, including the tax 

advantages.  While the home means different things to different people, it's become much more than just a shelter 

or primary investment. Today's home is a powerful financial tool. 

The Express interest-only feature, which is available on five- and seven-year adjustable-rate 

mortgages for purchase or refinance transactions, allows home buyers to make payments of "interest only" 

during the fixed-rate period of the ARM -- either five or seven years. 

After the interest-only period has ended, full principal and interest payments are required as the loan fully 

amortizes.  Borrowers can make principal payments during the "interest only" period, but are not required to 

do so. 

The following example illustrates the cost-benefits of a five-year ARM with the interest-only feature compared 

to a standard five-year ARM: A home buyer financing $400,000 at 7 percent using a five-year ARM would pay 

approximately $2,661 a month in principal and interest for the first five years. The same homeowner would pay 

approximately $2,333 a month using the five-year Interest-Only ARM -- a savings of $328 per month or $19,680 

over the five-year period. 

"We believe demand for this product feature will increase as more and more home buyers (and) homeowners 

see the benefits of redirecting cash toward higher return investments,"