5/1 ARM. 30 year amortization. Fixed 5 years. NO INCOME DOCUMENTATION
THIS LOAN IS BASED OFF 720+ CREDIT SCORES AND THE APPRAISAL.
7.85% at 1.5 points
8.312% APR (Annual Percentage Rate)
The initial interest rate is fixed 5 years. It then adjusts annually for the next 25 years. 30 year amortization. No pre-payment penalty. Maximum loan amount $3,000,000. Maximum loan-to-value 55% for purchases or cashout refinances.
APR calculated using $300,000 loan amount. Subject to change without notice.