LoanCity introduces five-year fixed payment option ARMMortgagePress.comPayment option ARMs, LoanCity
LoanCity has unveiled a new payment option ARM product called
"Take 5ive Option ARM," which combines the most attractive features
of a payment option ARM with the interest-rate stability of a 5/1
The new product gives borrowers the option of paying at the low
start rate (currently two percent) for up to five years, paying
interest only, paying at a 15-year rate or making regular principal
and income payments at a 30-year level. The product's note rate
does not reset monthly and is fixed for five years.
LoanCity is a wholesale mortgage lender based in San Jose,
Calif. For more information, call (800) 281-2626 or visit www.loancity.com.