Products -
Libor Loans and Interest Only Libor Loans
Libor rate home mortgage
loans offer consumers greater purchasing power, increased cash
flow and a number of other benefits. Libor Loans have either
a fixed rate or adjustable rate and are available with the interest-only
option or the fully amortized product. These loans may
not be for everyone, but you should not assume the worst for
these loans as they can be extremely beneficial to the people
they are tailored for. The Libor mortgage market has a number
of Libor loan programs available to consumers and below is a
list of some of the most popular types of libor loans:
ONE MONTH LIBOR RATE ARM LOANS - LIBOR LOANS
with INTEREST-ONLY MORTGAGE OPTION
The interest rate on these libor mortgage
rate loans is the sum of the LIBOR index plus a margin rounded
to the nearest 1/8 of a percentage point, (0.125%). The Libor
margin will not change for the term of these libor loans. The
Libor index value is adjusted every month, which will cause
the interest rate of these libor loans to be adjusted every
month.
SIX
MONTH LIBOR RATE ARM LOANS
- LIBOR LOANS with INTEREST-ONLY MORTGAGE OPTION
The interest rate
on these libor mortgage loans is the sum of the LIBOR index
plus a margin rounded to the nearest 1/8 of a percentage point,
(0.125%). The Libor margin will not change for the term of
these libor loans. The Libor index value is adjusted every
6 months, which will cause the interest rate of these libor
loans to be adjusted every 6 months.
3 YEAR LIBOR RATE ARM LOANS
- LIBOR LOANS with INTEREST-ONLY MORTGAGE OPTION
The interest rate on these Libor Loans is
fixed for the 3 years of the loan term and you are only required
to pay the interest. Years 4 thru 30 will see the adjustment
of the interest rate every year equaling the sum of the LIBOR
index plus the margin rounded to the nearest 1/8 of one percentage
point, (0.125%). The margin NOT changing throughout the term
of these Libor Loans. Years 4 thru 30 will require a principal
and interest payment for most libor loans.
5 YEAR LIBOR RATE ARM LOANS
- LIBOR LOANS with INTEREST-ONLY MORTGAGE OPTION
The interest rate on these
Libor Loans is fixed for the 5 years of the loan term and
you are only required to pay the interest. Years 6 thru 30
will see the adjustment of the interest rate every year equaling
the sum of the LIBOR index plus the margin rounded to the
nearest 1/8 of one percentage point, (0.125%). The margin
NOT changing throughout the term of these Libor Loans. Years
6 thru 30 will require a principal and interest payment for
most libor loans.
7 YEAR LIBOR RATE ARM -
LIBOR LOANS with INTEREST-ONLY MORTGAGE OPTION
The
interest rate on these Libor Loans is fixed for the 7 years
of the loan term and you are only required to pay the interest.
Years 8 thru 30 will see the adjustment of the interest
rate every year equaling the sum of the LIBOR index plus
the margin rounded to the nearest 1/8 of one percentage
point, (0.125%). The margin NOT changing throughout the
term of these Libor Loans. Years 8 thru 30 will require
a principal and interest payment for most libor loans.
10 YEAR LIBOR RATE ARM
- LIBOR LOANS with INTEREST-ONLY MORTGAGE OPTION
The interest rate on these
Libor Loans is fixed for the 10 years of the loan term and
you are only required to pay the interest. Years 11 thru
30 will see the adjustment of the interest rate every year
equaling the sum of the LIBOR index plus the margin rounded
to the nearest 1/8 of one percentage point, (0.125%). The
margin NOT changing throughout the term of these Libor Loans.
Years 11 thru 30 will require a principal and interest payment
for most libor loans.
10/30 YEAR
INTEREST-ONLY ARM LOANS
* The initial payments
are interest only for thefirst 10 years of these loans.
* After the completion of the interest only loan period, the unpaid mortgage
balance is fully amortized over the remaining term of the loans.
* The Borrower may make voluntary principal payments during the interest only
loan period. The required interest only payment will be reduced to reflect
the decrease in the principal unpaid loan balance.
Option
Arm Products - Option Arm Refinance - Option Arm Purchase
This is a great
product with a lot of flexibility and payment choices. The
increasing popularity
of these loans lead us to suggest you contact a knowlegeable
loan professional to go over all of the features these products
offer. Research these creative
options.
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