If you need to borrow MORE than $417,000, you need what is called a JUMBO loan. Jumbo loans are offered in many different manners... such as the traditional 30 year or 15 year fixed-rate mortgage, which offers total interest rate stability.

If you intend to live in the home for an extended period of time, it's a good choice. The 30-year mortgage generally provides for the lowest monthly payments. Down payment can be as low as 5% for qualified persons.

Another option can be an Adjustable Rate Mortgages. The terms can be fixed for a specified length of time and then vary, according to market conditions.

5 or 7 Year Balloon
Balloon mortgages offer the advantage of lower interest rates and lower monthly payments for the initial period.

1 Year ARM
The initial interest rate is generally very low and fixed for the first year and will be adjusted every year thereafter, based on the applicable index.

 

For information on rates and terms, please contact us at:



or e-mail lenny@444loan.com

 

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