Funding America LLC has announced it will now offer "45 due in 30" and "50 due in 30" loan products.
The 45/30 and 50/30 loans each amortize payments over a longer period than the term of the loan and conclude with a single balloon payment after 30 years. The loans avoid sharp payment increases common with other loan types and allow the consumer to pay off both principal and interest at a fixed rate.
Houston-based Funding America LLC is a wholesale provider of sub-prime and alternative loan products for the residential mortgage broker community. For more information, call (866) 782-0100 or visit www.famtg.com.