mta index - florida adjustable rate mortgage - adjustable rate mortgage florida - option arm mortgages - option arm mortgage      















   mta index - florida adjustable rate mortgage - adjustable rate mortgage florida - option arm mortgages - option arm mortgage

MTA Index ARM - Interest Only Loan -  Florida Mortgage

1.25 % or 4.14%      mta index - florida adjustable rate mortgage - adjustable rate mortgage florida - option arm mortgages - option arm mortgage

mta index - florida adjustable rate mortgage - adjustable rate mortgage florida - option arm mortgages - option arm mortgage

The "Option Index" Arm mortgage program offers you the flexibility of making monthly payments that make sense and best suit your financial needs at the time of payment. It offers three different options every month:

mta index - florida adjustable rate mortgage - adjustable rate mortgage florida - option arm mortgages - option arm mortgage      Make a low, low minimum payment.

mta index - florida adjustable rate mortgage - adjustable rate mortgage florida - option arm mortgages - option arm mortgage        Pay the interest only.

mta index - florida adjustable rate mortgage - adjustable rate mortgage florida - option arm mortgages - option arm mortgage      Make a full 30 year ( Principal & Interest ) amortized payment. Make extra payments against principal and receive immediate credit and reduction of loan amount. Making additional principal payments reduces the loan amount and future monthly payment.

Why make the same mortgage payment every month for 30 years when you have a choice with the "Option Index" Arm mortgage program?


MTA Index ARM  -  Florida MortgageChoose .... to reduce your monthly payment to pay down high interest credit cards.

mta index - florida adjustable rate mortgage - adjustable rate mortgage florida - option arm mortgages - option arm mortgage   Choose .... to increase your monthly payment in good times to reduce your mortgage payment later in life or when  you need to.

MTA Index ARM - Interest Only Loan -  Florida Mortgage     Choose .... reap the benefits of today's financial markets by making investments with the extra money.

mta index - florida adjustable rate mortgage - adjustable rate mortgage florida - option arm mortgages - option arm mortgage    Choose.... to keep extra money for short term emergency needs by making the minimum payment. It's like money  in the bank.

MTA Index ARM - Interest Only Loan -  Florida Mortgage     Choose.... to make low interest , tax deductible payments and put the difference into high yield investments.

mta index - florida adjustable rate mortgage - adjustable rate mortgage florida - option arm mortgages - option arm mortgage     Choose .... to eliminate expensive refinancing to save when rates decline. Your interest rate automatically declines when mortgage rates drop.

mta index - florida adjustable rate mortgage - adjustable rate mortgage florida - option arm mortgages - option arm mortgage


mta index - florida adjustable rate mortgage - adjustable rate mortgage florida - option arm mortgages - option arm mortgage      2.25% rate option available at 90% LTV

MTA Index ARM  -  Florida Mortgage   Purchase * Refinance * Cash-out Refinance

mta index - florida adjustable rate mortgage - adjustable rate mortgage florida - option arm mortgages - option arm mortgage      Up to 90% LTV financing. 

MTA Index ARM  -  Florida Mortgage   Primary  Residence  *  Second Home  *  Investment Property

mta index - florida adjustable rate mortgage - adjustable rate mortgage florida - option arm mortgages - option arm mortgage      Loan amounts:  $50,000 to $2,500,000. 
MTA Index ARM  -  Florida Mortgage   No Income (stated) Verification option available.
mta index - florida adjustable rate mortgage - adjustable rate mortgage florida - option arm mortgages - option arm mortgage        Fully assumable mortgage.
MTA Index ARM  -  Florida Mortgage   15, 30 and 40 year loan terms available.

mta index - florida adjustable rate mortgage - adjustable rate mortgage florida - option arm mortgages - option arm mortgage       Adverse credit history option.

MTA Index ARM  -  Florida Mortgage   Automatic withdrawal option available  -  monthly or bi-weekly.

mta index - florida adjustable rate mortgage - adjustable rate mortgage florida - option arm mortgages - option arm mortgage      1-4 unit residential property.

MTA Index ARM  -  Florida Mortgage   100% gift funds program.


In a speech to a credit union group, Fed Chairman Alan Greenspan questioned whether fixed-rate mortgages were the most cost-effective means of financing a home purchase.  He said "American homeowners clearly like the certainty of fixed mortgage payments" but pay several thousands of dollars a year for the benefits.

Greenspan said homeowners "might have saved tens of thousands of dollars had they held adjustable-rate mortgages rather than fixed-rate mortgages during the past decade"

Greenspan noted that if homeowners are "willing to manage their own interest-rate risks, the traditional fixed-rate mortgage may be an expensive method of financing a home." Feb. 24, 2004


 

Loan Amount:  $150,000

Three Payment Options:

  1.  Minimum payment:

$ 500 Month

  @  1.25 %

  2.  "Interest only" payment:

$ 516 Month

  @  4.14 %

  3.  30 year amortization:

$ 728 Month

  @  4.14 %   Fully Indexed Rate

 

 


 

Guaranteed Minimum Payment
Year 1 $ 500 Month
Year 2 $ 537 Month
Year 3 $ 578 Month
Year 4 $ 621 Month
Year 5 $ 668 Month
Year 6 $ 780 Month
Year 7 $ 732 Month


What is the most important feature of an (ARM) adjustable rate mortgage? The monthly index which determines it's rate. A steady and stable index protects the borrower from rapid increases. Volatile indexes are risky and do not protect the borrower. An example of a  "volatile"  index would be the 12-month treasury, 6-month libor, and the 6-month CD. The Option Index (MTA) is more stable and steady.

The annual cap is a 7 1/2% "payment" cap. The  payment cannot increase or decrease in any year by this dollar amount. In other words, it is the equivalent of less than 3/4% annual interest cap. The lifetime cap for owner occupied property is 9.95%. Special 9.95% lifetime cap available for limited time. 

Minimum payment will result in deferred interest. Interest only payments do not reduce principal. Payment minimums are recalculated annually. Monthly Arm index (MTA) changes affect the interest rate.

Information is based on interest rates effective 01/07/2004 with a fully indexed rate of 4.14%  and APR of 4.17%. Start rates, interest rates, payment rates, data and program guidelines are subject to change without notice and are not guaranteed. This is a brief outline with basic information only. Other restrictions and minimum loan amounts apply. Borrower should contact Florida Mortgage Corporation for details and full written disclosures.

 

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