Maximum loan amount: $350,000
-
Maximum loan to value ratio:
- 75%
-
Term:
- 120 Months, minimum loan $10,000
- 121 to 180 months, minimum loan $20,000
- 181 to 240 months, minimm loan $30,000
-
Closing Costs:
- No Closing Costs
-
Annual Adjustment CAP:
- 2%
- Rate can go up or down 2% each year
- Index = 1 Year CMT Plus
- Margin = 3.50
- Rounded to the nearest 1/8th
- Lifetime Adjustment CAP:
- 6%
- Rate will not be greater than 6% over the initial undiscounted rate
- Appraisal will be required.
- New York property only.
