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LIBOR Rate
The Three Month LIBOR rate is 1.94%, effective January 1, 2020. This is a reduction from the
prior rate of 2.10%, effective October 1, 2019 - December 31, 2019. With any change
to the LIBOR rate, variable rate loans will re-amortize and a repayment
schedule will be provided that will include your new monthly payment amount,
interest rate (margin plus LIBOR), and the effective date of your new monthly
payment amount.
LIBOR Rate
For
variable rate loans issued on the One Month LIBOR rate, the LIBOR is 1.80% effective
January 1, 2020.
For
variable rate loans issued on the Three Month LIBOR rate, the LIBOR is 1.95% effective January 1, 2020 - March 31, 2020.
You may
identify which LIBOR is applicable to your loan on the Final Disclosure issued
by Laurel Road.
With any
change to the LIBOR rate, variable rate loans will re-amortize and a repayment
schedule will be provided that will include your new monthly payment amount,
interest rate (margin plus LIBOR), and the effective date of your new monthly
payment amount.
Note: The
repayment schedule interest rate does not reflect the Auto Pay discount as
payments are not calculated with the discounted interest rate.