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National Mortgage Professional

Jun 05, 2006

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 hybrid ARM. 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.

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Jun 05, 2006

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