there are many factors that make up the rate on these programs. credit score, loan amount, type of property here is an example of a 500K purchase of a condo in orlando closed last week. 692 mid
80%- 7.75
20%- 12.25
1 year hard pre-pay, then soft for 2 years.
no pre-pay on the 2nd. i added .25 to rate to buy out the pre-pay.
Yes, it can be done interest only.
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James Keely
Dir Of Operatons
Florida Mutual Mortgage Group
http://www.zerodownflorida.com