An elderly client wanted to assure that she could handle her monthly mortgage payments. The balance on her current loan was $494,000. We offered three interest only options, all without out of pocket closing costs.
|
Product Term |
Interest Rate |
Monthly Payments |
|
5 Year I.O. Arm |
3.375% |
$1,389/month |
|
7 Year I.O. Arm |
3.75% |
$1,543/month |
|
10 Year I.O. Arm |
4.00% |
$1,647/month |
Cheers,
