Hybrid Option ARM

5/1 Fixed period ARM with 4 payment options:

• Reduced payment up to 5% below note rate
• 30 year fully amortized PI payment option
• 30 year interest only IO payment option
• 15 year fully amortized PI payment option

Highlights

• Negative amortization based on fixed note & min payment rate
• Minimum payment up to 5% below note rate
• Qualify at the note rate, Interest-Only
• Up to 95% LTV for purchases and rate & term refi less than 500k
• Up to 90% CLTV for cash out transactions
• Requires 3 tradelines > 24 month history
• 1x30x12 allowed on Full/Alt & Stated/Verified doc types