Year 1 - 3% lower than the note rate
Year 2 - 2% lower than the note rate
Year 3 - 1% lower than the note rate
Year 4 - Full note rate
Year 1 – 2% lower than the note rate
Year 2 – 1% lower than the note rate
Year 3 – Full note rate
Year 1 - 1% lower than the note rate
Year 2 - 1% lower than the note rate
Year 3 - Full note rate
Year 1 – 1% lower than the note rate
Year 2 – Full note rate
Great opportunity to help sellers/ realtors get a property sold without affecting the sales price. With the rising interest rate environment, sellers love this product and the benefit goes directly to the borrower.
A great way for borrowers to use any excess seller concessions that often times go unutilized
A lower interest rate for the first 1-3 years allowing the borrower to have a lower monthly payment
Borrowers can use the monthly savings to go towards renovations, making upgrades or buying furniture for their new home.
In a high interest rate environment, borrowers will more than likely be able to refinance to a lower rate than the one they will adjust to after the 1-3 years.
Allows borrowers additional purchase power in certain situations
Easier transition from a borrower who is renting to buying and want to ease into their mortgage with a lower payment.
* Specific loan program availability and requirements may vary. Please get in touch with the mortgage advisor for more information.