Pennsylvania Cash Flow ARM --- PA Option ARM

Features of PA Option ARM Mortgage:

• 4 different Payment Options each month: Interest only, minimum payment, Fully amortizing, and 15 year amortization.

• Owner Occupied, Primary Residence in PA:
          Purchase or rate and term refinance to 95%  (only 5% down payment required)
          Cash Out refinance on PA Primary Residence to 90%
• Second Homes in Pennsylvania:
          Purchase or rate and term refinance to 95%  (only 5% down payment required)
          Cash Out refinance to 80%
• Investment Property Option ARM:
          Purchase to 80% LTV (20% down)       
          Cash Out refinance to 70%   
   
• 10 acre maximum
• Stated Income or Full documentation - Stated Income is available for a self employed borrower. They state their income and it is not verified.  This option should not be used to submit a false income but to be able to avoid the time of providing tax returns or to include income that normal guidelines would not consider such as self employment or child support when there is no 2 year history.  Stated income Maximum LTV is 90%.  Salaried borrowers may not use the stated income option in this program.  We offer other programs for no doc salaried borrowers.
• Based off LIBOR Index - This index is thought by many to be more stable than  other indexes such as the T-Bill index or Prime Rate.
• No Seasoning Required - The LTV can be based off the appraised value even if the home was just purchased for less!
• Rates Starting at 1%.  Call us at 610.326.2099 for more specifics.
• Maximum Loan amount $2.5 million (with reduced LTV)
• Bankruptcy must be discharged 4 years if applicable.
• 40 year term available
• 620 Minimum Credit Score
• Option ARM Life cap 9.95%
• Apply On-line
• Pre-Qualify

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