What Information Must Be Included in the Initial and Ongoing Interest Rate Adjustment Notices?
Updated 14 days ago (March 6, 2026)
Both the initial and the ongoing interest rate adjustment notices must include:
The date of disclosure or notice
An explanation referring to the loan being adjustable and that the interest may change during the term of the loan
The effective date of the adjustment and future adjustments, or any other changes to the loan terms on such date
The current and new interest rates
The current and new payments, including the date when the first payment is due
An explanation of how the interest rate is to be determined, including the formula used in making the adjustment
An explanation of the limits on the interest rate or payment increases
An explanation of how the new payment amount is determined
The prepayment penalty and its conditions
Contact information of the servicer
A brief explanation of the alternatives to paying the loan at the new rate (refinancing, selling the property, renegotiating, forbearance)
Housing counselling information
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