Boost your buying power with our Two Step Advantage (15/15 ARM).
Features of the Two Step Advantage (15/15 ARM) include:
The FM Lending Two Step Advantage loan may be right for you if:
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Available on purchases and refinances up to $2 million for 1-2 unit properties. Not available for applications without a property address (pre-purchase). Investment properties are not eligible. The initial rate is fixed for 15 years (180 months). When the rate adjusts, the new rate will become the then-current index (weekly average yield on US Treasury securities adjusted to a constant maturity of 10 years) plus a margin of one percentage (1.000%) point, rounding to the nearest 0.125%. The new rate cannot exceed 6.000% above the initial rate or cannot be lower than the floor rate of 1.000%. Other restrictions may apply.
All first mortgage products are provided by Prosperity Home Mortgage, LLC dba FM Lending Services. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance. Also licensed in Delaware, District of Columbia, Maryland, North Carolina, Pennsylvania, South Carolina, Virginia, and West Virginia.
NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)
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