|
|
 |
|
 |
|
|
| |
| Conforming Fixed Rate Loans |
| Jumbo Fixed Rate Loans |
| Option Payment ARM |
Rates last updated on Thursday, August 23, 2007
|
Conforming Fixed Rate Loans
Fixed Rate Loans have an interest rate that is fixed for the term of the loan. The most common term for fixed rate loans is 30 years. However, fixed rate loans also come in terms of 10, 15, 20, 25 and even 40 years. A conforming loan has an initial balance that does not exceed $417,000.
Term: 30 years
Maximum Amount: $417,000
|
 |
Jumbo Fixed Rate Loans
A jumbo loan is any loan that has an initial balance of over $417,000. Our lenders provide jumbo loan amounts of up to $10,000,000.
Term: 30 years
Maximum Amount: $10,000,000
|
|
Option Payment ARM
The Option Payment Arm is one of our most popular products for financing resort real estate. The interest rate floats each month, so if rates drop there is no need refinance. In addition, the annual payment is capped for 12 months, and cannot go up more than 7.5% each year. The borrower receives an invoice each month with 4 payment options: a minimum payment, an interest only payment, a 15 year payment and a 30 year payment.
Term: 30 years
Maximum Amount: $10,000,000
|
|
|
Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $4,170. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $750,000 with closing costs of $7,500. Your actual APR may be different depending upon these factors.
|
|
|
|
|