direct home loan

direct home loan realtors

MTA, etc. Start Rate - The introductory rate provided to purchasers of ARM loans for the initial direct home loan interest period. The difference between the "Start Rate" of an ARM and the rate of a fixed terms loan is that the "Start Rate". Period - This is the frequency of adjustments, the longer the rate remains fixed, the better the loan is for the borrower. Typically, the shorter this is the lower the rate, since there are more opportunities to adjust upwards. Floor - A clause that sets the minimum rate for the direct home loan rate of an ARM loan. Most loans come with a Start Rate = Floor feature, direct home loan this is primarily for Non-Conforming (aka Sub-Prime or Program Lending) loan products. This prevents an ARM loan from ever adjusting lower. An "A Paper" loan typically has either no Floor or 2% below