The New York Mortgage Company introduces Homeowner Protection ARMMortgagePress.comAdjustable-rate mortgages, The New York Mortgage Company
The New York Mortgage Company has introduced an adjustable-rate
mortgage (ARM) loan that limits borrowers' interest rate risk while
still allowing them to enjoy the benefits of falling rates - the
Homeowner Protection ARM.
The Homeowner Protection ARM is a 30-year loan that starts at
6.5 percent for three months and has a 6.99 percent cap for the
first 10 years, with a floor of four percent. The rate, pegged to
LIBOR, is adjusted monthly and has a margin of 1.5 percent over
New York-based The New York Mortgage Company is a mortgage bank
and subsidiary of real estate investment trust New York Mortgage
Trust Inc. For more information, call (866) 563-6962 or visit www.nymc.com.