Posted on October 18, 2007
Check out the new Step Rate Mortgage program.
BELOW MARKET FIXED RATE
The program allows the seller to contribute to a temporary rate buy down. The starting rate could be up to three percentage points below the market fixed rate.
SAFE AND PREDICTABLE
The rate adjustments are limited to one percent for each year of the buy down, allowing the buyer to plan ahead for increases in their payment.
BACKED BY WINDERMERE MORTGAGE SERVICES GUARANTEES
Ask about our closing date, closing costs and loan approval guarantees.
Rather than costly permanent buy downs, Step Rate affordably begins significantly below current market rates and adjusts back up at timed intervals to the current 30 year fixed rate. Step Rate is NOT an ARM ( adjustable rate mortgage ). It is very much a 30 year fixed rate that offers a lower payment during the first two years.