If you have a mortgage with a high interest rate, be it adjustable or fixed, now is the perfect time to contact Stateside and lock in to a low fixed interest rate!

 

Home values have reached their peak and interest rates are on their way up, locking in to a low fixed rate now will save you money for years to come.

 

If you want the certainty of a fixed payment from month to month and which to protect against interest rate increases, now is the time to call Stateside Funding and take advantage of their lock in offer!

Lost in a sea of complex terminology? We know that obtaining a loan can be a frightening process, especially if you don’t know what is being said, that’s why we have developed the Stateside Education Station.

 

Terms

• Annual percentage rate (APR)

The sum total of all your borrowing costs as a percentage interest rate to be charged on the loan balance.

 

• Adjustable Rate Mortgage (ARM)

Index, readjustment intervals, and capitalization rate will all contribute to the intere2st rate for this type of loan. The initial interest rate can be as much as 2 to 3 percent lower than a fixed rate mortgage, which can make the ARM more affordable.

 

• Fixed loan

This long-term option requires monthly payments that will remain the same throughout the duration of the loan, which may vary from fifteen to thirty years. It is the most affordable short-term solution, but it may cost more than shorter-term mortgages over the full life of the loan.

 

• Hybrid loan

The Hybrid Loan, also called an intermediate or convertible ARM, offers a fixed interest rate for a limited initial period before ‘switching’ to an ARM.

 

• Index

Changes in indexes such as the Federal Funds Rate are used to periodically readjust the interest rates in adjustable rate mortgages (ARMs).

 

• Points

Some loans may offer lower interest rates and in exchange they charge you what is known a “point,” a one-time pre-paid interest fee, which is calculated as a percentage of the loan. They are usually paid up front, may range from 0.25% to 2% of the loan balance.

 

• Appraisal

An appraiser may be hired to evaluate the appropriate purchase price for the property. Factors such as condition and size of the home in relation to similar recent neighborhood sales is used to determine this figure.

 

• Miscellaneous fees

Costs that are incurred during the processing of your loan, such as courier, filing, notary, and county recording fees are lumped together as miscellaneous fees.

 

Product	Last
30 yr fixed mtg	5.875%
15 yr fixed mtg	5.50%
3/1 ARM	5.50%
5/1 ARM	5.75%
7/1 ARM	6.00%

 

Looking for a way to fully enjoy your retirement years? Stateside Funding understands the needs and concerns of our senior members in the community and that’s why we our proud to offer an FHA approved Reverse Mortgage. With a Reverse Mortgage from Stateside Funding you can convert your own home equity into cash that can be used to help pay household expenses and rising medical costs.

 

With our Premiere 1.25% Option ARM financial freedom can be yours. Refinancing with Stateside Funding can save you hundreds of dollars off of your monthly mortgage payment. Call now to see if you qualify for our Premiere 1.25% Option ARM and enjoy all that your money can do for you.