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1 Yr. ARM Loan with 2/6 Caps, 30 Yr. Amortization
3/1 ARM Loan with 2/6 Caps, 30 Yr. Amortization
5/1 ARM Loan with 2/5 Caps, 30 Yr. Amortization
Interest Only ARM
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| 1 Yr. ARM Loan with 2/6 Caps, 30 Yr. Amortization |
Program offers lower initial interest rate. Loan amounts up the the Fannie Mae maximum loan amount, presently $359,650. Interest rate may adjust every 12 months. Annual interest rate caps or 2% protect borrower from large increases in rate and payment. 6% lifetime caps on interest rate. |
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| 3/1 ARM Loan with 2/6 Caps, 30 Yr. Amortization |
| Program offers a fixed rate of interest and stable payment for 36 months. Thereafter, interest rate and payment can change every 12 months. 2% annual caps in place to protect borrower from large increases in rate and payment. 6% lifetime cap. Loan amounts available up to the Fannie Mae maximum loan amount, presently $359,650. |
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| 5/1 ARM Loan with 2/5 Caps, 30 Yr. Amortization |
| Program offers a fixed interest rate and payment for 60 months. Thereafter, interest rate and payment can change every 12 months. 2% annual caps in place to protect the borrower from large increases in rate and payments. 5% annual caps. Loans available up to the Fannie Mae maximum loan limit of $359,650. |
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| Interest Only ARM |
| This ARM loan offers a fixed period LIBOR-indexed adjustable rate with an "interest only" period which coincides with the initial fixed rate period of the loan of 3,5,6,7 or 10 years. After the initial fixed rate period, the interest rate adjusts every 6 months until the loan has fully amortized. |
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