Owner Financing Plans Available
- With a down payment of: 07% and less than 10%; The interest rate is 13.00%
- With a down payment of: 10% and less than 15%; The interest rate is 12.00%
- With a down payment of: 15% and less than 20%; The interest rate is 11.00%
- With a down payment of: 20% and less than 30%; The interest rate is 10.00%
- With a down payment of: 30% and less than 40%; The interest rate is 09.50%
- With a down payment of: 40% and less than 50%; The interest rate is 09.00%
- Owner’s Transaction fees: 2.0% of the amount to finance (One time only).
- No prepayment penalties.
- All loans will be calculated based on 30 years. The contract will include an adjustable rate mortgage fixed for the first five (5) years and will be adjusted each following year.
ARM 5/5, Pinned to WSJ Prime (Wall Street Journal)
Decrease = 0 pts
Increase = Current financed rate + (future WSJ prime rate – 3.00%)
Decrease = current rate 9.00% + (2.00% – 3.00%) = 9.00%
Increase = original rate 9.00% + (5.00% – 3.00%) = 11.00%
**Final Approval Subject to income verification and screening.**
**Requirements: Borrower must document last 2 Years Income Taxes**
**Buyer must purchase and maintain property insurance for the closing (if no insurance coverage by HOA)**
Monthly payment plus property taxes plus insurance, plus HOA Fee should not exceed 40% of Borrower’s monthly income.
I.E: $1,200.00 ÷ 40.00% = $3,000.00 Minimum Joint Monthly Income.
Proof of income.
Last two years income Taxes.