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LIBOR Index Mortgage Loans
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| LIBOR Index Mortgage Loans |
| 10.30.04 (1:14 pm) [edit] |
Click here for complete info and current rates on all LIBOR Loans
The 6 Month LIBOR Loans are popular because they provides you with the ultimate in low monthly payments. LIBOR Rates on these programs are in the 2% to 3% range, and because of the interest only feature, a monthly payment that is incredibly low. The risk with the LIBOR index loans is that the rates will rise, but in most cases you are protected by a 6% cap over the start rate, so if you start at 2.5% then the worst case scenario is 8.5%, and that it is not so different than the 30 year fixed rate mortgage in the 6% range. All in all, the libor index loans are a good for the long or short term holder willing and able to take the risk of a changing monthly payment.
Click here for complete info and current rates on all LIBOR Loans
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