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Commercial Mortgages
10 & 15 Year Fixed Rate Mortgage
Stability Over the Life of the Loan Many borrowers prefer the stability of both a fixed interest rate and a fixed payment over the life of the loan.
- Lock in a long-term interest rate with a stable, predictable monthly payment.
- Borrowers who want to build equity faster should select the shortest loan term they can afford.
- Shorter loan term carries a lower interest rate, helping borrowers to save in interest cost over the life of the loan.
5/20 or 5/25 Adjustable Rate Mortgage
Lower Monthly Payments and Increased Purchasing Power
- Borrowers can obtain lower mortgage payments with a longer amortization period.
- The interest rate is adjustable every five years after the initial five years.
- Easier to qualify for a mortgage as well as a larger loan amount.
- More cash flow due to longer amortization period.
10/20 or 10/25 Adjustable Rate Mortgage
Lower Monthly Payments and Increased Purchasing Power
- Borrowers can obtain lower mortgage payments with a longer amortization period.
- The interest rate is adjustable every five years after the initial ten years.
- Easier to qualify for a mortgage as well as a larger loan amount.
- More cash flow due to longer amortization period.
Construction Loan
Interest only during construction period
- Can borrow up to 80% of the "completed" appraised value.
- 1% Origination Fee due upon acceptance of Commitment.
- Commercial and Residential Properties.
- Personal guarantees required.
Visit our Mortgage Division at 50 Pearl Street, Metuchen, N. J. or call 732-549-4452 ext. 6312 to discuss your mortgage needs.
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