InterFirstlink goes for seconds MortgagePress.comInterFirst Wholesale Mortgage Lending, Interfirstlink
The Financial Institutions Group of InterFirst Wholesale Mortgage
Lending has expanded its InterFirstlink
program to include second mortgages. Closed-end, fixed-rate
(program 410) and closed-end, balloon (program 411) programs are
now available through InterFirstlink, a Web-based system
that enables community banks to offer industry-leading mortgage
products and services to consumers in their local markets.
InterFirstlink's closed-end, fixed-rate program
includes 10- and 15-year fixed-rate options. Its closed-end,
balloon program offers mortgage loans with a 30-year amortization
and a 15-year balloon. The programs are eligible with all of
InterFirstlink's full documentation, first-lien loans.
The second mortgage products offered through InterFirstlink can
assist borrowers by increasing cash proceeds to the borrower or
eliminating the need for borrowers to obtain private mortgage
insurance that, unlike mortgage interest payments, cannot be
deducted from their taxes.
The Financial Institutions Group of Ann Arbor, Mich.-based
InterFirst Wholesale Mortgage Lending provides mortgage
capabilities to community banks through its InterFirstlink
program. For more information, call (800) 770-1673 or visit www.interfirstlink.com.