RATE PLUS MORTGAGE PROGRAM - Merix Financial
RATE PLUS MORTGAGE PROGRAM
PRODUCT DESCRIPTION LOAN AMOUNTS TERMS & AMORTIZATION INTEREST RATE LTV CREDIT REQUIREMENTS
PAYMENT FREQUENCY PREPAYMENT OPTION
UNITS ELIGIBLE TRANSACTIONS
INELIGIBLE TRANSACTIONS
LENDING AREAS OTHER
? The Rate Plus Mortgage (RPM) program allows clients to take advantage of competitive low interest rates and a full-featured mortgage with all the benefits
? Minimum loan amount: $ 75,000 ? Maximum loan amount: $ 1M
? Terms: Fixed 5-year, ARM: 5-year ? Amortization: 15 to 25 years
? See Fixed Rate or Adjustable Rate Mortgage product sheet ? Assumable and portable *subject to qualification
? Up to 95% LTV for insured; 80% LTV conventional
? 620+ beacon/FICO is required ? Maximum GDS/TDS:
Where beacon/FICO ................
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