Rate Options

30 year fixed

20 year fixed

15 year fixed

10 year fixed

1 year ARM

Fixed for the first year. Adjusts every 12 months after that.

2% per year max, and 6% lifetime caps.

3/1 ARM

Fixed for first 3 years. Adjusts every 12 months after that.

2% per year max, and 6% lifetime caps.

5/1 ARM

Fixed for 5 years -Same as above.

Jumbo Loans

Loans over $275,000. The rates are 1/4% to 1/2% higher than loans under that

amount.

2/1 Buydown

First year 2% lower than current rate t Second year 1 % lower than current rate

Fixed for remaining 3-30 years.

There are two, 2/1 Buydown programs. In one, the seller pays 2.5 discount points and in the other, the lender pays the buydown.

The seller-funded buydown is at a lower rate.