ABC launches Power Fixed 5-year ARM productMortgagePress.comABC Power Fixed 5-Year ARM
American Brokers Conduit, the wholesale division of American
Home Mortgage Investment Corporation, a publicly held Real Estate
Investment Trust (REIT), has announced the introduction of its new
Power Fixed 5-Year ARM.
Highlights of the Power Fixed 5-Year ARM include:
• A fixed monthly payment rate as low as 1.25 percent for
first five years;
• The ability for borrowers to select a fixed interest up
front, so there's no guessing on deferred interest if minimum
payment option is chosen;
• The choice of four monthly payment options for better
budgeting and cash flow management;
• 100 percent LTV to $500,000 with LPMI;
• Loan amounts to $8 million;
• DTIs to 55 percent;
• SIFA available to a 90 percent LTV; and
• The inclusion of LLCs.
"The Power Fixed 5-Year ARM has some truly fantastic aspects
that will meet the needs of a wider range of borrowers, while
providing ABC broker partners with a solid and highly desirable
product," said Lisa Schreiber, executive vice president of ABC.
"Today's borrowers want more certainty and stability in their
mortgage and ABC has responded with a product that provides real
For more information, visit www.abconduit.com.