FL Jumbo ARM Mortgage Rates

FL Jumbo ARM Mortgage Rates have ticked down a bit as of late for all Counties of Florida, giving hope that much needed liquidity is being added to the secondary market. This is great news for Florida borrowers.

At First Interstate Financial Cop., we have successfully added an investor that offers excellent FL Jumbo ARM Mortgage Rates. As of the close of business on 9/04/2009, the following fully amortized and interest-only FL Jumbo ARM Mortgage Rates were available*:

7/1 ARM 4.5% 4.31% APR

7/1 I/O ARM 4.625% 4.49% APR

5/1 ARM 4.125% 3.87% APR

5/1 I/O ARM 4.25% 4.15%APR

These FL Jumbo ARM Mortgage Rates assume an owner-occupied property and are subject to qualification standards. There are various loan-to-value qualifications, asset requirements, income requirements, and credit requirements as well. The biggest caveat currently is an appraisal: appraisal reviews are quite stringent on this program.

There are programs available for second home financing, cash-out refinances, construction loan take-outs, and purchase money financing. We can offer loans for amounts up to 3 Million or higher, depending on your scenario.

Some prudent consumers in Florida, particularly those who receive large annual bonuses, see the benefit in utilizing an interest-only ARM option to make prepayments on their mortgage balance. Interest-only options are available as well in all areas, and the interest-only portion of the loan is for 120 months.

It is important when considering FL Jumbo ARM Mortgage Rates that one carefully reviews their own financial situation and future plans. Our current financial crisis has proven a short-term ARM loan is not always a great fit for the consumer, and a reputable mortgage professional should always take into consideration a homeowner's goals for considering an adjustable rate mortgage loan. Additionally, consumers should review the margin, index, and caps of any proposed adjustable rate mortgage loan they are considering. I wrote this article primarily for those currently with ARM loans, but it explains the basics of adjustable rate mortgage financing.

FL Jumbo ARM Mortgage Rates are not for everyone. But for those with specific goals and those aware of the inherent risks, this program can be utilized as a great tool for saving money and for creating a sound financial plan.

* Not a commitment to lend. Rates subject to change without notice, and assume an LTV under 60% and loan amount under 850k. Other programs available. Equal Housing Lender. Licensed in CA,CO,CT,DE,FL,GA,MA,MI,MO,MT, NJ, NY,PA,TX,SC,VA

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