 2/28
ARM |
|
|
 |
|
With a 2/28 ARM you get the loan
you need even though your credit may be less
than perfect. The interest rate is fixed for
the first two years after which the interest
rate can change. This allows you two years to
rebuild your credit, at which point you may
refinance at a better rate.
|
|
|
|
|
|
|
| 40
YEAR |
|
|
 |
|
40 year loan is designed
to meet the needs of today’s homeowner.
Extending the term of the loan from 30 to 40
years significantly lowers your monthly
payment and allows you to qualify for a larger
loan amount.
|
|
|
|
|
| 30
YEAR FIXED |
|
|
 |
|
With this type of loan monthly
payments are fixed over the life of the loan.
The interest rate does not change and you’re
protected if rates go up. You can refinance if
rates go down.
|
|
|
|
|
| 15
YEAR FIXED |
|
|
 |
|
With this type of loan monthly
payments are fixed over the life of the loan.
The interest rate does not change and you’re
protected if rates go up. You can refinance if
rates go down.
|
|
|
|
|
| OPTION
ARM |
|
|
 |
|
The Option ARM Loan gives you
the flexibility to Pick-A-Payment each month.
What this means to you is a low initial
monthly payment, a low start rate and up to 4
payment options each month.
Option 1 - The
minimum payment lets you keep your cash and is
calculated based on your initial start rate.
Option 2 - An
interest-only payment that keeps your monthly
payments very manageable.
Option 3 - A
principal and interest payment based on a 30
year fixed rate loan.
Option 4 - A
principal and interest payment based on a 15
year fixed rate loan.
|
|
|
|
|
