The Rate Escape Disclosure

Education First Federal Credit Union (EFFCU) Rate Escape Mortgage Loan Modification Terms and Conditions, Eligibility and Disclosures

To qualify for a rate modification on your mortgage loan, the loan(s) and borrower(s) must meet the following criteria:

1. Loan is one of the following fixed-rate mortgage products: 10,15, 20, or 30-year Deed of Trust originated with EFFCU on or after August 1, 2025.
2. At the time of request, members must qualify for a rate reduction of at least 0.25%. Rate eligibility is based on individual and co-borrower credit approval and worthiness upon origination of the loan.
3. The borrower must have made at least twelve (12) consecutive monthly payments that fall within the 10-day grace period leading up to the time of the request.
4. Borrower does not have an active bankruptcy case pending or has not filed for bankruptcy protection within twelve (12) months before the modification request.
5. Loan is not in an active loss mitigation option, process, or consideration.
6. Borrower(s) continue to own the property, notwithstanding successor-in-interest exceptions.
7. Loan is only eligible for the Rate Escape modification one (1) time within the first five (5) years of the loan.

Exercising the Rate Escape modification option will permanently reduce your interest rate and the remaining principal and interest payments on your loan, but will not modify any other terms contained in your loan documents, including the principal balance, maturity date, and additional amounts due for escrows as part of your monthly periodic payment under your Security Instrument.

• RATES AND TERMS ARE SUBJECT TO CHANGE AT ANY TIME WITHOUT NOTICE. To exercise the Rate Escape modification option, the borrower(s) must initiate the request with Education First Federal Credit Union (EFFCU) Mortgage Department. Borrower(s) are solely responsible for monitoring EFFCU loan rates to determine eligibility, subject to the abovementioned criteria. EFFCU will only reduce the interest rate of a qualifying mortgage loan product under the Rate Escape modification option if all applicable criteria are satisfied at the time of the request. These terms and conditions do not constitute a commitment to lend, nor a guarantee that you will be approved, for a mortgage loan from Education First Federal Credit Union.
• Education First Federal Credit Union is Federally Insured by NCUA and is an Equal Housing Lender.