Loan Products

FlexPay Option ARMs

Available Products

  • 5/1 LIBOR

Advantages of FlexPay® Option ARMs

  • Hybrid ARMs allow rate protection for up to 5 years
  • Minimum payment can be fixed for a term of up to 5 years
  • Interest Only payments can be made for up to 10 years, even if the maximum negative amortization limit has been reached
  • Minimum payments are calculated using a percentage of the full amortizing payment

Three Payment Options:

  • Fully amortizing payment
  • Interest Only (up to 10 years even if maximum negative amortization is reached)
  • Minimum payment (based on a percentage of the fully amortizing payment)

Features

  • Full Doc and Stated Income documentation available
  • Interest Rate is fixed for 5 years and amortized over 30 years
  • Up to 95% LTV for Full Doc, 80% LTV for Stated Income
  • Competitive ‘A-Paper’ pricing for high credit quality borrowers
  • Decision credit scores starting at 680 for Full and Stated Income Doc Types
  • Loan amounts up to $2,000,000
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