Cal Vet Loan - Programs
6 Month ARM
Description:  This loan has a fixed rate and payment for the first 6 months. After that, the rate and payment adjust every 6 months. During the adjustable portion of the loan, the rate increase or decrease is capped at each rate change. Also, there is a lifetime cap that sets a maximum limit for the rate over the term of the loan. The adjustable rate is based on the LIBOR index plus a margin.

Benefits:  Your initial rate and payment for this loan are significantly less than for a fixed rate mortgage. If you anticipate rates to fall in the future, or if you intend to sell or refinance the property within 6 months, of if you reel that rates will remain the same or decrease, this may be a desirable loan to select.

To Consider:   If you retain your property and do not refinance this loan within 6 months, you are subject to the adjustable rate. Depending on the interest rate environment at that time, your rate and payment may increase significantly.
For information about 6 Month ARM loan program, please contact us
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