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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Ramsey Su who wrote (37414)	7/31/2005 4:38:09 PM
From: russwinter	Read Replies (1) \| Respond to of 110194

From CFC site: One year with no points quoted as 5.375%, with the APR rates stated as 6.3%. That 6.3% is the case with most of the products they offer. The 1.0% one month Option ARM came with $12,500 in "points" On the later the CFC site seemed to not allow me to get through to read the fine print, even after I rebooted. Kept getting some kind of Javasript message, and I have the latest version. I simply don't believe these are as loose as everybody supposes. They will be a real pain in short order as well. Basic Adjustable Rate Mortgages (ARMs) As little as 5 — 10% equity required on some programs Adjustment periods each 6 months or 1 year Maximum Life caps of 5—6 % on most programs Periodic Adjustment caps vary from 1—2 % Choice of Treasury, LIBOR and COFI indexes Assumable (credit qualification required) Conversion option available on some programs Owner-occupied, second home and 1-4 unit properties Loan amounts up to $2 million