1 The low initial Minimum Monthly Payment is calculated based on the low initial start rate. Rates are for calculation purposes only, please call your loan officer for rate quotes.
2 Paying the Minimum Monthly Payment will result in deferred interest, which will be added to the principal balance and increase your loan amount. This is called negative amortization. For the first 5 years the minimum payment will increase 7.5% over the previous year.
3 The Monthly Savings is calculated using the current Index + Margin. Rate increases or decreases are not computed. Monthly Savings compares the 30 Year Payment to the Minimum Payment.
4 The Effective Interest Rate is the rate the Lender charges each month. It is equal to the Index Rate + Margin. The Index + Margin yield may change each month as the Index rate changes.
Massachusetts Office - 423 West Broadway, Suite 403 - South Boston, MA 02127 Phone: (617) 269-1118 Toll Free: (877) 574-0007 Fax: (617) 269-1133 website: www.mbamortgageco.com
We lend in the following states:
Massachusetts, Connecticut, New Hampshire, Rhode Island, and Florida
Licensed by the Massachusetts Division of Banks. License #MB4115
Licensed by the Connecticut Dept of Banking. License #17404/#17405
Licensed by the New Hampshire Banking Department. License #11440-MBR
Licensed by the Rhode Island Division of Banking. License #20072210LB
Licensed by the Florida Office of Financial Regulation. License #504347
FHA Approved Broker
Licensed by the Department of Housing & Urban Development. License #28012-0000-2
NMLS #2880
