Crestline Funding’s Popular Adjustable Rate Mortgage Products
As a direct lender, Crestline Funding can tailor a personalized loan product to meet each customer’s individual needs. That’s why our adjustable rate mortgages are popular with many customers, especially those looking to start with a low monthly mortgage payment or looking to sell their house after just a few years. Adjustable rate mortgages can provide lower payments and give borrowers added flexibility as it pertains to paying down principal. Adjustable rate mortgages tend to start with a lower interest rate than a fixed-rate mortgage for the first few years and then the rate may adjust upwards.
Interest-Only Products
In an interest-only loan, the borrower pays only the interest on the loan for a set term. After that term has expired the principal balance is amortized for the remaining term of the loan. This results in larger payments on the remaining portion of the loan. Like an adjustable rate mortgage, these loans can be beneficial to borrowers who expect an increase in income or salary in the coming years or those who would like to choose the amount they put down on the principal from month-to-month during the interest-only period.
Home Equity Loans
Qualified buyers can open a revolving line of credit using their home equity with flexible payment options. These loans can be advantageous for borrowers to cover unforeseen expenses like medical bills or for home improvement projects that can maximize their property investment. A home equity loan can either be a fixed rate or an adjustable rate mortgage, depending on which provides the best benefit for the borrower.
Fixed Period ARMs
These adjustable rate mortgages are great for first-time home buyers because they have a lower initial interest rate with the stability of a fixed payment for the first 3, 5, 7, or 10 years. Providing an initially lower mortgage payment, these loans can help people purchase a home who foresee an increase in income over time or plan on selling the home after the initial fixed period. After the initial set period, the adjustable rate mortgage may rise, but the borrower will have plenty of time to prepare for the change.
Low Down and First Time Buyer Programs
As a direct lender, Crestline Funding has creative financing options that allow borrowers to purchase their first homes for little money down, either with a fixed rate or an adjustable rate mortgage.
Crestline Funding – “Your Friend in the Mortgage Business”
Crestline Funding is a direct lender and as an independent financial institution, we don’t have to spend money on broker’s fees and middle men. This allows Crestline to provide its customers with the lowest adjustable rate mortgage interest rates available. Crestline Funding has a streamlined approval process that makes getting funded fast and easy for our customers. But what brings Crestline Funding most of its referrals is our honest lending practices, attention to detail and top-notch customer service. Our low rates make us an industry leader but the way we treat each customer as an individual is why Crestline is known as “Your Friend in the Mortgage Business.”
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