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| 30, 15, 20, 10 YEARS FIXED CONFORMING & JUMBO |
| 30 YEARS FIXED/SUPER CONFORMING |
| 15 YEARS FIXED RATE MORTGAGE |
| 30/10 FIXED RATE INTEREST ONLY MORTGAGE |
| ADJUSTABLE RATE MORTGAGES (ARM) |
| 5/1 ADJUSTABLE RATE MORTGAGE |
| 7/1 ADJUSTABLE RATE MORTGAGE |
| 10/1 INTEREST ONLY (IO) ADJUSTABLE RATE MORTGAGE (ARM) |
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30, 15, 20, 10 YEARS FIXED CONFORMING & JUMBO
Fixed Rate Mortgages give you the security of knowing that your monthly payment will not change. No matter how high market interest go, your mortgage rate remains the same over the life of your loan.
We offer a variety of fixed-rate products - Conforming (up to $417K) & Jumbo loans (over $417K) with loan terms ranging from 10 to 30 years.
Our Fixed Rate products have no prepayment penalty - you can make extra payments monthly or pay off the loan earlier without penalties or fees.
Term: 30 years
Maximum Amount: $417,000
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| Rates | Points | APR |
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| 4.75% | 1% | 4.89% |
| 5% | 0.5% | 5.09% |
| 5.25% | 0.25% | 5.32% |
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30 years Fixed, Conforming
Recommended for people who:
-Prefer regular payments with no surprises
-Are on limited or fixed incomes
-Plan to stay in their home for a long time
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30 YEARS FIXED/SUPER CONFORMING
This is a Super Conforming 30 Years Fixed Mortgage Loan backed by Government Agencies as temporary relief, according to provisions of Economic Stimulus Package. The top Conforming limit was increased from $ 417,000 to a maximum of $ 625,000 for higher priced RE markets. Maximum Loan limit for Fairfield County, Connecticut is $ 511,750. Please call for information on limits set for other CT counties or visit FHA Website (www.FHA.gov).
Term: 30 years
Maximum Amount: $511,750
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| Rates | Points | APR |
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| 5.125% | 1% | 5.27% |
| 6% | 0% | 6.04% |
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Jumbo Loan at Conforming Rate. |
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15 YEARS FIXED RATE MORTGAGE
Fixed Rate Mortgage with 15 years term. Provides stable and predictable monthly payments.
Term: 15 years
Maximum Amount: $417,000
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| Rates | Points | APR |
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| 4.5% | 1% | 4.67% |
| 5% | 0% | 5.07% |
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Recommended for people who:
- Prefer regular payments with no surprises
- Plan to retire within 12-15 years and stay in their home
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30/10 FIXED RATE INTEREST ONLY MORTGAGE
This is an Interest Only Fixed Rate Mortgage that is amortized over 30 years and permits the borrower to pay interest only for the Initial Interest Only period of 10 years. After the 10 years period, the outstanding principal balance will be re-amortized over the remaining 20 years of the loan term. At this point a portion of Principal will be added to the Interest, causing the borrower's monthly payment to increase. The borrower may make voluntary principal payments during the Interest Only period, which will reduce loan balance and trigger the recalculation and reduction of borrower's future monthly payments. These products have no prepayment penalty. The Program's advantage is safety of Fixed Rate Mortgage combined with Tax efficiency and low monthly payments for first 10 years. Loans are offered as Conforming or Jumbo. Both require full documentation.
Term: 30 years
Maximum Amount: $417,000
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| Rates | Points | APR |
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| 6.25% | 1% | 6.14% |
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30/10 -- 30-year fixed rate mortgage
with a 10-year initial Interest Only period followed by a 20-year fully
amortizing period. (Conforming & Jumbo)
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ADJUSTABLE RATE MORTGAGES (ARM)
ARM is a 30 Years Mortgage with an Initial Fixed Rate Period of 3, 5, 7 or 10 years.
After the Initial Fixed Rate period the interest will be adjusted annually, based on the Index plus Margin. The margin will remain the same throughout the life of the loan. The interest rate will be adjusted up or down every 12 month depending on movements, if any, in the Index. We offer programs based on either 1-Year Constant Maturity Treasury (CMT) or LIBOR Index.
All programs have Caps that limit Interest Rates increases over the life of the loan to 5.0 - 6.0 percentage points above the Initial Interest Rate. The Interest Rate can not decrease to less than the loan Margin. After the First adjustment the Interest Rate will not increase or decrease by more than 2.00 percentage points at any subsequent rate change.
Our Programs do not create Negative Amortization and have no Prepayment Penalty.
We offer both - Conforming with a balance up to $417,000 and Jumbo Loans with balances up to $ 2,000,000.
Term: 30 years
Maximum Amount: $417,000
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| Rates | Points | APR |
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| 5.25% | 0.5% | 5.34% |
| 5.625% | 0% | 5.67% |
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The Rate above is quoted for 3/1 Conforming ARM
Most of our programs have an Interest Only option. That means that during an initial fixed rate period the borrower pays Interest Only. The principal payments are not required.
After the end of Fixed Rate period the borrower makes monthly payments of Principal and Interest that fully amortize the unpaid balance over the remaining years of the loan.
The borrower may make voluntary Principal payments during the Interest Only period, which will trigger the reduction of loan balance and recalculation of the borrower's future monthly payments. |
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5/1 ADJUSTABLE RATE MORTGAGE
Interest rate and payment amount is fixed for the first 5 years, then interest rate is subject to change every year with caps up to 5% at first adjustment, 2% at subsequent adjustments and 5% for the life of the loan.
Term: 30 years
Maximum Amount: $512,000
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| Rates | Points | APR |
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| 4% | 0% | 4.459% |
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5/1 is Fully documented Loan Program, available at Conforming and Jumbo size up to $708,750. Interest Only option is up to 5 years.
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7/1 ADJUSTABLE RATE MORTGAGE
7/1 - An Adjustable Rate Mortgage with Interest Rate and payment amount fixed for the first 7 years. After 7 years Interest Rate is subject to change every year with a caps of up to 5% at first adjustment, 2% at subsequent adjustments and 5% for the life of the loan. If IO (Interest Only) option is chosen, loan amortization begins after the end of the 7 years fixed period. The borrower makes monthly payments of principal and interest that fully amortize the unpaid balance over the remaining 23 years of the Loan. There is no negative amortization or prepayment penalty.
Term: 30 years
Maximum Amount: $417,000
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| Rates | Points | APR |
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| 4% | 0% | 4.424% |
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7/1 ARM Available as a Conforming or Jumbo Loan up to $708,000, with Interest Only option. |
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10/1 INTEREST ONLY (IO) ADJUSTABLE RATE MORTGAGE (ARM)
Interest Rate and monthly payment amount is fixed for the first 10 years. During this 10 years Initial Fixed Rate period the borrower makes interest only payments. The payments of principal are not required. It allows to lower substantially borrower's monthly payments.
After the end of 10 Years Fixed Rate period the borrower makes monthly payments of principal and interest that fully amortize the unpaid balance over the remaining 20 years of the Loan term.
During this 20 years period interest rate is subject to change every year with caps of 5% at first adjustment, 2% at subsequent adjustments and 5% for the life of the loan.
(This Program is currently unavailable)
Term: 30 years
Maximum Amount: $417,000
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| Rates | Points | APR |
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| 6.75% | 1% | 6.729% |
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Available as a Conforming or Jumbo Loan with a balance up to $2,000,000, Stated Income.
During the interest only period of 10 years the borrower may make voluntary principal payments, that will reduce loan balance, triggering recalculation of borrower's future monthly payments.
Our Programs do not create Negative Amortization and have no prepayment penalty. |
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