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Answer #1

,I ran your scenario thru my pricing engine. It looks like you must put down 25% to qualify for an IO loan. We have both 7 and 10 year ARMS available with 25% down. I don’t know if anyone can do better on the terms of the down payment. I can tell you regular ARMS paying P&I would be available at 80%. If you would like me to run some numbers and see what the payment looks like please give me a call or email.

Thanks

Brent Mendelson
Senior Loan Officer
Monarch Mortgage
600 Jefferson Plaza, Suite 400
Rockville, MD 20852
240-403-1970 Direct
301-412-0259 Cell
http://www.monarchmtg.com/bmendelson
nmlsr#111407

Answers Answered By: Brent Mendelson Level Rating133points

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