1 The low initial Minimum Monthly Payment is calculated based on the low initial start rate. Rates are for calculation purposes only, please call your loan officer for rate quotes.
2 Paying the Minimum Monthly Payment will result in deferred interest, which will be added to the principal balance and increase your loan amount. This is called negative amortization. For the first 5 years the minimum payment will increase 7.5% over the previous year.
3 The Monthly Savings is calculated using the current Index + Margin. Rate increases or decreases are not computed. Monthly Savings compares the 30 Year Payment to the Minimum Payment.
4 The Effective Interest Rate is the rate the Lender charges each month. It is equal to the Index Rate + Margin. The Index + Margin yield may change each month as the Index rate changes.
Will Rudloff Mortgage Team - 54 Fox Valley Drive Serving the Orange Park Middleburg And the Greater Jacksonville Area - Orange Park, FL 32073 Office Phone: (904) 298-3015 Fax: 904-272-3806 call first Cell Phone: 904-874-4416 Toll Free Phone: 1-877-360-2027 E-Mail: mrwillfromjacksonville@comcast.net See mr. Will: http://www.youtube.com/watch?v=XPHV-guG2YE
First Time home buyer. Ask about our free mortgage review.http://www.youtube.com/watch?v=PWDN5gZs49QWe also do Reverse Mortgages for seniors Licensed Mortgage Brokerage Business Serving Orange Park and the greater Jacksonville area. Where there is a "Will" there is a way!!
