The 2 year ARM is one of
the most popular sub-prime mortgage programs available because
of its lower short term rates and the qualification requirements
needed to consummate funding. This mortgage loan is used often
by borrowers looking to correct their credit rating and consolidate
high interest debt.
Typical Qualifying Details for 2 Year Adjustable Rate
Mortgage
Min
Credit Score:
500
Stated
Income:
Yes
Maximum
CLTV:
100%
Stated
assets:
Yes
Max Loan Amount
$1,000,000+
Your 2 Year adjustable rate mortgage is fixed
for the first 2 years and is amortized over 30 or 40 years.
After the first 2 years at a fixed rate this loan than adjusts
and is subject to the rate increases and decreases of the
current market. After fixing your credit score, you may
opt to refinance into a lower rate for a longer term.
Let us help save you even
more money on your next mortgage. Apply today and receive
up to four free mortgage quotes.
Min
Credit Score: