Florida 3/1 Adjustable Rate Mortgage Loan
If you're a home
buyer or homeowner
looking for a short term low rate Florida
mortgage, our 3/1 adjustable rate mortgage loan program
may be just the answer you're looking for. With it's features,
it is particularly suitable for a business person or military
personnel with short-term work assignments in Florida.
It's most ideal for those who wish to own a home rather than
renting it even for a short duration.
The 3/1 adjustable rate loan can help many
individual with an interest
only mortgage payment option during the initial 3
years at a fixed rate. If at the end of the third year,
your elect to relocate or even leave Florida, you simply sell
the home and clear the mortgage.
In the event your stay in Florida becomes more permanent,
the loan amortization of up to 30 years could be utilized
with gradual increase in repayments for the balance period;
Or you could elect to Refinance
your home into a fixed
rate mortgage. As such, the 3/1 ARM loan program
provides total flexibility for you, whether you have to move
out of Florida after 3 years or whether your stay becomes
permanent.
The 3/1 adjustable rate mortgage loan includes:
- Fixed interest rate for a period of 3 years
- Interest only payment option
- Rate indexed on the CMT or LIBOR
- Rates could be adjusted after 3 years either annually
or biannually
- Loan becomes fully amortized for 27 years after the first
3 years of fixed rate period
At Hallmark Mortgage Services, we recognize not every adjustable
rate mortgage program is right for every situation. As
a leading Florida
mortgage company, our job is to place you in the right
loan, the first time. The 3/1 ARM is
a great program, but is designed for short durations and is
certainly not recommended as a loan for life.
The three year fixed ARM loan program can
be used with many of the following programs:
With all of the features, flexibility and options offered,
why not contact Hallmark Mortgage Services about you next 3/1 adjustable
rate mortgage. One of our professional loan counselors
would love the opportunity to discuss whether this program,
or other programs, might best suite your financial
situation. If you're interested in the 3/1 ARM program, you
might very well be interested in our 5/1
adjustable rate mortgage programs. Call today at 1-866-358-2898
or use our quick
mortgage application to find out more!
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