Which loan is right for me?
| Years you plan to keep investment | Recommended program |
| 1-3 years |
2,3 year fixed rate ARM |
| 3-5 years |
3,5 year fixed rate ARM |
| 5-7 years |
5,7 year fixed rate ARM |
| 7-10 years |
7 year fixed rate ARM |
| 10+ years |
15,20,30 year Fixed rate |
| Fixed Rate Mortgages Advantages Disadvantages |
|
15/15 or 20/20 or 30/30 term/amort.
With choice of 2,3,5,7 year fixed rate or decline fixed rate
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- Monthly payments are fixed during the fixed rate period
- Interest rate does not change until fixed period is over
- Protected during fixed period
- Can refinance if rates go down
|
- Higher interest rate
- Higher mortgage payments
- Rate does not drop if interest rates improve
|
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| Adjustable Rate Mortgages |
|
2,3,5,7 year fixed rate
with choice of 15,20 or 30 year amort.
|
- Lower initial monthly payment
- Lower payment over a shorter period of time
- Rates and payments may go down if rates improve
- May qualify for higher loan amounts
|
- More risk
- Payments may change over time
- Potential for high payments if rates go up
|
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This is a true Fixed Rate Loan Program offering various amortization and fixed rate terms:
- From $100K to $1.5M on Commerical, Apartment or Mixed Use properties.*
- Up to max. 75% loan to value for Investor property
- 680 minimum credit score
- Rates as low as 7.50%**
- Loans are assumable upon lender approval
- Rate buydown available
- Declining fixed rate program available for excellent pay history
- Amortization choices of 15, 20, 30 years
* Property types subject to underwriting eligiblity and tier classification
**Rates subject to change(as of 01/07/2008)
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