Rates and Products

30 Year Fixed - The thirty year fixed mortgage will be fixed at the day of issuance for thirty years. There will be no cap or adjustments. These mortgages have 3-2-1- pre-payment penalties.

3 / 1 ARM - The three-year / one-year adjustable rate loan program will be fixed for the first three years then reverts to a twelve month adjustable rate mortgage. Caps will be two points per change period and six points over the life of the loan after a 2% initial adjustment.  These mortgages have 3-2-1- pre-payment penalties.

5 / 1 ARM - The five-year / one-year adjustable rate loan program will be fixed for the first five years then reverts to a twelve month adjustable rate mortgage. Caps will be two points per change period and six points over the life of the loan after a 2% initial adjustment. These mortgages have 3-2-1- pre-payment penalties.

Prime Floater - The Prime Floater 1-2 year term loan that will be a floating rate note that resets every time prime rate changes and floats at a spread above the prevailing Prime Rate as published by the WSJ.  There will be no caps on the prime floater, and the floor will be the start rate.  These mortgages do not have a pre-payment penalty.

These loans will be customized for the IRA account holders requiring IRA "distribution funds" at age 59 1/2 and for Required Minimum Distributions at the age of 70 1/2.