| |
|
Fixed
Rate |
Adjustable
Rate (ARM) |
Jumbo |
7-Year
Balloon |
Lot
Loan |
|
| |
Rate* |
Fixed |
Adjust annually after initial fixed rate for first 3-10 years |
Fixed |
Fixed rate for 7 years, after which the conversion option interest rate is unknown until the end of those 7 years |
Fixed |
|
| |
Terms |
Up to 30 years |
10-40 years |
Up to 30 years |
7/23
(30-year amortization 7-year balloon)
|
Up to 15 years
(balloon at 3 or 5 years) |
|
| |
Loan-To-Value
(LTV) |
Up to 100% |
Up to 95% |
Up to 90% |
Up to 90% |
Up to 80% |
|
| |
Tax-Deductible-Interest** |
YES |
YES |
YES |
YES |
In some cases |
|
| |
Added Benefits |
Monthly principal and interest remain the same for loan life |
Initial payments are lower than a fixed rate mortgage |
Allows for higher loan amount |
Initial interest rate is lower than 30-year fixed rate loan, offering lower monthly payments |
Buy property today for your future home |
|