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Overview:
This is the least used of the fixed rate mortgages. The monthly
payment is only slightly higher than a 30 year, but the interest savings is
substantial. You still get no risk that changing market conditions will effect your
monthly payment.
Is It For You?
This loan is probably right for you if you don't plan to move or refinance for at
least 7 to10 years and you are willing to pay a little extra each month to save in the
long run. After 5 years you will have paid off approximately 9% of the principal
balance. |
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Other Programs
Main Program Page
30 Year Fixed
25 Year Fixed
20 Year Fixed
15 Year Fixed
1 Year ARM
3/1 ARM
5/1 ARM
FHA
VA
Construction - Permanent
Lot Loans
97% Homebuyer's Helper
100% Homebuyer's Helper
NINA
5 Year Balloon
7 Year Balloon
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