Land Loan #3


Details:

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.