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Do You Know How to Buy and Read eBooks!
Now, I know what you’re probably thinking, “Reading and eBook is just like reading an ordinary book.” I disagree. Here’s way, If you’re here reading this article then I’m pretty sure you’ve read your fair share of eBooks, and most likely most of...
Feng Shui Office
Things to take into account at the time to look for feng shui office harmony.
At the time to look for feng shui office harmony, there are many important things to consider and to use in order to achieve your search for harmony goal. Through...
Managers Need Basic PR
True, because department, division or subsidiary managers for a business, non-profit or association really DO need a dynamic yet workable blueprint for reaching those key outside groups of people who have a big say about how successful those...
Revenue or Employee Size for Small Manufacturing Enterprise Definition Obsolete: Number of Parts for product Assembly more Accurate
E-Z-MRP, the leading manufacturing software system for small manufacturers, announced effective April 15th, there will be a new pricing and product structure. According to Rocky Smolin, founder of Beach Access Software, makers of E-Z-MRP, “We see a...
The fuel that drives the Ultimate Lifestyle
"The Fuel That Drives The Ultimate Lifestyle" - By Bob Scheinfeld In a recent article (What is The Ultimate Lifestyle), I talked about the 8 core components that define "The Ultimate Lifestyle." The first component was income streams, and the...
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Foster Home Uses Pay Option Mortgage Loan For California Refinance
“We recently received an application from Angela P. who needed to refinance her California home. While finding out her specific goals for the refinance I learned that she was a foster mom and cared for multiple "crack" babies that had been taken away from their mothers at birth because of testing positive for an illegal substance during labor,” states Gary Rees of GoldMedalMortgage.com
“She was trying to utilize the equity in her home to remodel and add a bedroom to make it more comfortable for the two teenage and two newborn children her and her husband care for.”
“For their situation I decided that a Pay Option mortgage loan program would give them the cash flow needed to cover shortfalls. It also lowered their mortgage payment over 1500 a month,” continues Rees.
A Pay Option Mortgage Loan allows the complete flexibility to decide, every month, which of four mortgage payments you would like to make.
This program is ideal for anybody that has fluctuating income such as the self-employed. Pay Option is also an excellent choice if you are looking to buy a new home and want the lowest possible monthly payment, or if you simply just want to lower your existing mortgage payment.
The Pay Option Mortgage is a relatively new product that allows you four payment options each month.
1. 15 year payment- Pay your loan off and build equity faster as well as save thousands of dollars in interest
2. 30 year payment- This option will let you know how much to pay to have your home free and clear in the standard thirty years
3. Interest only option- This option allows you to pay only the interest portion of your monthly payment so you can increase monthly cash flow
4. 1% Minimum payment-This option allows you to pay your mortgage at a 1% rate of interest for maximum savings
The Pay Option Mortgage is the absolute best adjustable mortgage
product available today. It has built in features that protect you from the typical worries associated with an adjustable rate mortgage.
One is the fact that your payment cannot increase more than 7.5% above the previous year for the first five years. Another gives you the option to convert to a fixed rate mortgage after the first three years. With these features in place you can rest easy with your new adjustable mortgage.
Here is an example of what a Pay Option Mortgage could for you
Estimated Current Monthly Payment - $1663.26 New first year payment - $833.13 Estimated increased monthly cash flow- $830.13 Estimated increased yearly cash flow - $9961.52
Disclaimer-First years interest rate 1.25%. Interest charged at 3.45% for the first month. APR 3.74% subject to increase monthly. 30-year loan.
This loan may have negative amortization. Max increase/decrease in monthly payment is 7.5% per annum for the first five years. This is an ARM product. Example payments based on 7.0% interest rate and $250000 loan.
“During the loan process I got a chance to visit her home and was really impressed by the cleanliness of both her home and all the kids. I have three of my own and I can tell you it’s a challenge to keep up the house and the kids and the homework.”
“Clearly a great family! We decided to waive our fees and pick up the costs involved in this transaction for Mr. and Mrs. P who are providing love and shelter to the innocent children victimized by addiction."
“It was the least we could do for this amazing family that breaks even after buying clothes and food for the kids. For Angela and her husband, this is truly a labor of love!” concludes Rees.
For more information on Pay Option Mortgage Loans please call 1-866-398-4664 or go to http://www.goldmedalmortgage52.com
About the Author
Full service marketing
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Finance - Leases-Leasing Ezine Articles |
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Finance » Leases Leasing » Absolute Article Directory |
Absolute Article Directory: Finance, Leases Leasing. |
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By David Springer | On January 29, 2006 | In Leases-Leasing | Rated. Short on cash, but need equipment? Consider leasing what you need. ... |
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Projector Leases, Leasing Companies for LCD, DLP, LCOS projectors |
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The-Arts-Magazine.com - Leases-Leasing |
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OmegaMotors.com - Your Money - Leases - Leasing Overview |
Blue Book retail & trade-in value reports on used vehicles. Kelley features prices on used cars, trucks, street and dirt bikes, ATVs, scooters, ... |
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Entertainment Guide - Leases-Leasing |
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vehicle leases leasing guide and facts |
vehicle leases leasing guide and facts. Under the federal Consumer Leasing Act, you, the consumer, have a right to information about the costs and terms of ... |
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