At least 30 but not more than 120 days prior to a payment adjustment and at least 90 but not more than 120 days prior to the expected maturity of a balloon-payment mortgage, a lender shall provide the borrower with notice, in writing, or, where the borrower has consented in advance, via electronic media of the adjustment or of maturity. However, where the loan contract provides that changes in the interest rate shall occur more frequently than changes in the payment, the lender need not notify the borrower of changes in the rate, nor of changes in the loan balance or term resulting from a rate change, until notice of a payment adjustment is given or at least annually. For purposes of notification, either in writing or, where the borrower has consented in advance, via electronic media, a payment adjustment is considered to occur as of the date of the interest rate change immediately preceding the due date of the adjusted payment. In addition, where the loan contract sets out a schedule of payment adjustments, notice need not be given of payment changes made pursuant to that schedule. With regard to the electronic transmission of notices, a hard-copy of such notice shall be mailed to each applicant who indicates that he or she does not have the computer capacity to down-load and print such notice. In those instances in which a hard-copy of the notice is not mailed to the applicant, the lender must be able to demonstrate that information was obtained as to the applicant's computer capacity to down-load and print such notice.