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Old 09-28-2005, 10:29 AM
mike_d_edwards
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Default Re: [IncomeProperties] PICKAP-A-YMENT



Hi,

There are several other lenders who also have a pick a payment option who will go down as low as a 620 FICO with a 1% start rate O/O and a 2% start rate N/O/O up to a 4 Plex. These lenders have a true soft prepay which means if you sell the home there is NO prepayment at all.

The loans are tied to the MTA index, which are not quite as stable as the CODI, but, the APR is lower to start, thus, offsetting the difference between the CODI and MTA index's.

By virtue of the fact these folks have a true Soft prepay and a lower APR I prefer these lenders, who are also more LTV (90%) friendly to investors for N/O/O properties.




Mike Edwards, MBA
Loan Officer
US Funding Group, Inc.
Office: 360-433-6800, Ext. 177
Cell: 503-734-5781
Toll Free: 877-341-4080





Mike Edwards, MBA
Loan Officer
US Funding Group, Inc.
Office: 360-433-6800, Ext. 177
Cell: 503-734-5781
Toll Free: 877-341-4080











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