Selling a rental, questions about capital gains taxes

[Chris Torchrst]

Hi, I am selling a home that I have owned for 10years. I lived in the home for 7 years, and rented it out for the past almost 3 years. My understanding with capital gains taxes, is that if I do not sell before the day that marks the end of the 5 year mark (house was my primary for two years, and a rental for the last 3 years) I will have to pay 20% beginning the DAY the house hits the 5 year mark.  

Is that true, or do captial gains taxes start at a lower percentage for a period after the 5 years, and increase incrementally? 

thank you for your advice!