Notice of Change of Interest Rate

On December 16th 2015, the Federal Reserve announced their decision to increase the US Prime Rate by 0.25%. All Peaks loan contracts includes a variable rate tied to this index and therefore, effective February 1st 2016, interest rates increased by 0.25%. The increase in the interest rate will cause your payment to re-amortize resulting in a slightly higher monthly payment which will take effect for any payments which billed after February 1st, 2016. In the event the Federal Reserve decides to change the Prime Rate in the future this would also affect your monthly payment at that time. This change will be viewable on your statements generating after February 1st, 2016.

If you are signed up for autopay, please contact us to authorize a change to the autopay draft amount