7 Year ARM – A good alternative

Homebuyers are looking for stability, yet they want to find a great deal.  Some want the assurance of a steady, fixed rate mortgage that’s locked in for good, yet others want the lowest rate they can find, often found in an adjustable rate mortgage (ARM).  Our new 7/1 ARM gives your buyers the best of both, a rate that’s fixed for seven years yet approximately 1% lower than the 30 year fixed rate.

In addition, our 7/1 ARM product is part of our portfolio program, meaning that we keep the loan as an in-house investment and we can offer your customers more flexibility with underwriting.

All of the following are good candidates to benefit from our 7/1 ARM:

  • Buyers who plan to move or refinance within 7 years.
  • Those who want a lower starting payment now, and anticipate increased income in the future.
  • Buyers who recently had their house on the market but now want to remain in the home and refinance into a lower rate or receive cash out.
  • Those with nontraditional credit.
  • Buyers who want to deal with a local bank instead of multiple servicers.

Hybrid ARMs continue to be a wise financial choice for many buyers.  Stability, lower rates, flexible underwriting, local servicing.  These are just a few of the reasons the 7/1 ARM may be a good fit for your customers.  Please call for more details…

August 5, 2011 by · Leave a Comment

About James

James A. Williamson is currently the Sr VP of Sales Development for Shelter Lending Services (formerly Fairfield Mortgage). James joined Shelter in 1994 and was the company's top Loan Officer in GA for 20 straight years helping over 2500 families finance their homes. James now oversees an incredible group of Loan Officers in Atlanta while further building Shelter's Atlanta business.

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