| Borrower Goals |
Loan Parameters |
| • |
Plan to live in the property over 10 years |
| • |
Like total payment stability |
|
| • |
Interest rate & monthly payment remain the same for 30 years |
|
| Borrower Goals |
Loan Parameters |
| • |
Plan on staying in property over 10-15 years |
| • |
Want to pay off property faster than 30 years |
| • |
Lower interest rate than 30 year loan |
|
| • |
Interest rate & monthly payment remain the same for 15 years |
|
| Borrower Goals |
Loan Parameters |
| • |
Plan to live in property approximately 10 to 12 years |
| • |
Like initial payment stability, can accept interest rate change later |
|
| • |
Interest rate & monthly payment fixed for the first 10 years |
| • |
Starting the 11th year, interest rate adjusted every year, so payment is subject to change every year for remainder of loan |
|
| Borrower Goals |
Loan Parameters |
| • |
Plan to live in property approximately 7 to 8 years |
| • |
Can tolerate one payment adjustment |
|
| • |
Interest rate & monthly payment fixed for the first 7 years |
| • |
Conversion option: On the 8th year, interest rate adjusted to reflect prevailing fixed interest rates, resulting payment will remain the same for remainder of loan |
|
| Borrower Goals |
Loan Parameters |
| • |
Plan to live in property approximately 7 to 8 years |
| • |
Like initial payment stability, can accept change later |
|
| • |
Interest rate & monthly payment fixed for the first 7 years |
| • |
Starting the 8th year, interest rate adjusted every year, so payment is subject to change every year for remainder of the loan |
|
| Borrower Goals |
Loan Parameters |
| • |
Plan to live in property approximately 5 to 6 years |
| • |
Can tolerate one payment adjustment |
|
| • |
Interest rate & monthly payment remain fixed for the first 5 years |
| • |
Conversion option: On the 6th year, interest rate adjusted to reflect prevailing fixed interest rates, resulting payment will remain the same for remainder of loan |
|
| Borrower Goals |
Loan Parameters |
| • |
Plan to live in property approximately 5 to 6 years |
| • |
Like initial payment stability, can accept later changes |
|
| • |
Interest rate & monthly payment remain fixed for the first 5 years |
| • |
Starting the 6th year, interest rate adjusted every 5 years(for 5/5 ARM) and every year (for 5/1 ARM) |
|
| Borrower Goals |
Loan Parameters |
| • |
Plan to live in property 3 years or less |
| • |
Like initial payment stability, can accept later changes |
|
| • |
Interest rate & monthly payment remain fixed for the first 3 years |
| • |
Starting 4th year, interest rate adjusted every 3 years (for 3/3 ARM) and every year (for 3/1 ARM) |
|
| Borrower Goals |
Loan Parameters |
| • |
Want to take advantage of lowest rate possible |
| • |
Are willing to accept yearly payment changes OR |
| • |
Cannot qualify at higher rate programs |
|
| • |
Interest rate adjusted every year, so monthly payment is subject to change every year for entire 30 year loan term |
| • |
Potential higher payments (at maximum interest rate) |
|
|
Equal Lending Opportunity |