1 Yr. ARM Loan with 2/2/6 Caps, 30 Yr. Amortization3/1 ARM Loan with 2/2/6 Caps, 30 Yr. Amortization5/1 ARM Loan with 5/2/5 Caps, 30 Yr. AmortizationInterest Only ARM7/1 ARM Loan with 5/2/5 Caps, 30 Yr. Amortization
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1 Yr. ARM Loan with 2/2/6 Caps, 30 Yr. Amortization
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Program offers lower initial interest rate. Loan amounts up the the Fannie Mae maximum loan amount, presently $417,000. Interest rate may adjust every 12 months. Annual interest rate caps or 2% protect borrower from large increases in rate and payment. 6% lifetime caps on interest rate.
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3/1 ARM Loan with 2/2/6 Caps, 30 Yr. Amortization
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Program offers a fixed rate of interest and stable principal and interest payment for 36 months. Thereafter, interest rate and payment can change every 12 months. 2% annual caps in place to protect borrower from large increases in rate and payment. 6% lifetime cap. Loan amounts available up to the Fannie Mae maximum loan amount, presently $417,000.
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5/1 ARM Loan with 5/2/5 Caps, 30 Yr. Amortization
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Program offers a fixed interest rate and stable principal and interest payment for 60 months. Thereafter, interest rate and payment can change every 12 months. 2% annual caps in place to protect the borrower from large increases in rate and payments. 5% initial and lifetime caps. Loans available up to the Fannie Mae maximum loan limit of $417,000.
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Interest Only ARM
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This ARM loan offers a fixed period LIBOR-indexed adjustable rate with an "interest only" period which coincides with the initial fixed rate period of the loan of 3,5,7, or 10 years. After the initial fixed rate period, the interest rate adjusts every 6 or 12 months until the loan has fully amortized. This loan product is sold servicing released and monthly mortgage payments are made to that investor, not Trustmark.
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7/1 ARM Loan with 5/2/5 Caps, 30 Yr. Amortization
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Program offers a fixed interest rate and principal and interest payment for 84 months. Thereafter, interest rate and payment can change every 12 months. 2% annual caps in place to protect the borrower from
large increases in rate and payments. 5% initial and lifetime caps. Loans available up to the Fannie Mae maximum loan limit of $417,000.
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