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Stated Jumbo Loans, Stated No Doc Home Loans

posted Mar 13, 2013, 11:48 PM by Massey Kouhssari   [ updated May 28, 2015, 5:35 PM ]

At this time we only lend in California only... sorry no other states

We only Lend in California
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Adjustable Rate Mortgage

 

Adjustable Rate Mortgages have 4 main features, the first is called Margin, the second is called Index, the third is called Caps, and the forth is called the Initial Fixed-Rate Period of the loan.   Those  words probably mean very little to you, so let’s take a look at what they mean.

Margin: This is the fixed or constant portion of your adjustable that never changes. It stays the same for the duration of your loan. The Index is your variance. This is the portion of your Adjustable that makes it an Adjustable. If you take this fixed Margin and add it to the varying Index, you derive your interest rate. Accordingly, Margin + Index = Interest Rate.

Index: There are many different indexes, but the most common are the LIBOR (London Interbank Offered Rates) and CMT (Constant Maturity Treasury

Caps: The caps on an adjustable rate mortgage determine how much your rate can adjust, up or down, on the first adjustment, subsequent adjustments and for the life of the loan. So when you see caps that show 2/2/6, this means that the rate can adjust a maximum of  2% on the first adjustment, 2% on subsequent adjustments and 6% over the life of the loan. The rate can never be lower than the margin (floor).

Fixed Rate Period: This if the number of years that the initial interest or note rate is fixed, prior to adjustments. For example: a 3/1 ARM means that the rate is fixed for the first 3 yrs, a 5/1 ARM means that the rate is fixed for the first 5 years, and so on.

 

Our Conventional ARM Programs

ProductCapsMarginIndex
3/12/2/62.25LIBOR
5/15/2/52.25LIBOR
7/15/2/52.25LIBOR
3/1 I/O2/2/62.25LIBOR
5/1 & 7/1 I/O5/2/52.25LIBOR
 

Our FHA ARM Programs

ProductCapsMarginIndex
3/11/1/51.75CMT
5/11/1/51.75CMT
 

Our Stated Home Loan ARM Programs

ProductCapsMarginIndex



5/12/2/62.375LIBOR

The Last Reported 12 Month Libor Index Rate is:  0.75150 %
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