Max Mortgage ARM
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Looking to get into your next home?
Get the most out of your mortgage with the Max Mortgage Adjustable Rate Mortgage (ARM). Maximize your home-buying power with our flexible options.
Begin with a low, fixed rate, and then adjust upward or downward after the initial fixed term with this special Max Mortgage ARM.
It’s ideal for those who need a larger loan amount but want to keep their payments low initially. An ARM may also be a good choice if in the years ahead, you expect your income to increase or plan to move or refinance when the rate adjusts.
For mortgage information or to begin an application, contact Vickie Kearney, NMLS#410353, at 512-595-6437 or toll-free at 800-460-6990, loan officer through SWBC Mortgage Corporation.
SWBC Mortgage Corporation
Financial Institution Loan Officer
Rates current as of 3/1/2019 and subject to change without notice. APR varies based on credit qualifications and loan amount. Loans available for up to 90% of the lesser of appraised or sales price, Texas is limited to 80% LTV. Adjustable rate subject to change once after the 5th year of loan term and will be based on the 12-month US Libor index with a margin of 2.75%. AFFCU Membership required. Some restrictions may apply. Loans are subject to credit and property approval. Programs and guidelines are subject to change without notice. Rates change daily. Certain restrictions and conditions may apply. First mortgage services provided by our partner SWBC Mortgage. Corporate Office located at 9311 San Pedro, Suite 100 San Antonio, Texas 78216. NMLS #9741 (www.nmlsconsumeraccess.org).
How It Works
How it works:
This is a 5/1 ARM with the option of a 20 or 30 year repayment period. You have the choice of term that best fits your needs.
Purchase Money Non-Purchase Money If you have a 10% down payment, and you take a 20 year repayment period there is no PMI required. If your loan to value is greater than 80%, PMI is required. If you take any term other than 20 years, PMI is required when the down payment is less than 20%. Minimum Equity position is 5% on non-cash out refinances. Minimum down payment required is 5%. Maximum Loan to Value on a cash out refinance is 80%.
- 80% Loan-to-Value with Private Mortgage Insurance (PMI)
- 90% Loan-to-Value Ratio without PMI
- Low monthly payment with the advantage of a 20- or 30-year repayment period
- Flexible payment options
- No pre-payment penalty
- Free pre-qualification
- In-house underwriting and processing for quick decisions
- Flexible closing times