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5/1 Interest Only Conforming Rates |
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The Five Year Fixed Rate Interest Only Conforming Mortgage
The monthly interest rate for this 5/1 Interest Only conforming ARM is fixed for an initial term of five years. The minimum payment is the loan amount times the interest rate, divided by twelve months. (Interest Only). Each year after that term, the rate and the payment will be adjusted and calculated on the basis of the LIBOR index, plus an additional fixed margin of 2.25% to 2.75% depending on lender. The amount of rate adjustment is limited by caps to no more than 2% at the first adjustment, 2% annually thereafter, and 6% for the life of the loan. 5/6 ARM and 5/1 ARM also available.
California properties only. |
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Call For Your
Free Rate Quote • Apply by phone • Purchase and Refinance Home Loans anywhere
in California |
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