What is a 40 year Fixed Rate Loan with a 10 Year Interest Only Feature Loan?

Are you looking to take advantage of todays Low Interest Rates for longer term? Maybe you seek a lower initial home loan payment after cash out? With Rates on the rise, you are not alone! Our lending products are often unique and not what you see at Local Banks,  especially if you are Looking for Loan Flexability and options, such as cash out or maybe earning both w2 income and SE income. We get that! One popular loan product we offer is a 40 Year Fixed Rate Loan with a 10-year Interest-Only period at the start. WOW.

This gives families payment flexability and possible payment relief while locking in today’s low rates for entire 40 year term, while eliminating uncertainty when adjusting from Interest-Only (IO) to P&I payments! It’s easier to qualify than many 40 year Fixed IO loans, because of its 40-year term. Underwriting decisions are fast and efficient. We offer aggressive loan solutions and are glad to learn more!

 

Here are a few of the loans FEATURES:

•  Purchase, Refinance, and Cash Out (OK with reduced Loan to Values generally)
•  Self Employed allowed
• Loan amounts up $3.0 million
• O/O 90% Max LTV to 1.5 million. 700 score +
• O/O 85% max LTV to $ 3.0 million;
• NON O/O 80% max LTV to $2.5 Million
• Owner-occupied, second homes and investment properties
• 4 year seasoning for bankruptcy, foreclosure, short sale or deed in lieu
• One year income documentation typically OK for Self-Employed with Basic W-2 income
• 12- and 24-month bank statement programs
• Smart asset depletion loans, with asset divided by up to 120  months
• DTI ratios possible at times up to 50% (purchase, rate & term)
• Credit scores as low as 680
• To request a Free Mortgage Analysis please CLICK HERE and one of our Loan Professionals will return your contact quickly!
• To Learn more also feel free to give Dan Cassel and the Trinity Mortgage Loan Team a call today direct to the office at 866-310-1112!
• Dans Info:  NMLS # 347918 Ca DRE # 01146347