LOAN TYPE: AGENCY (FNMA, FHLMC)
POSITION: 1ST
RATE TYPE: FIXED
PAYMENT TYPE: AMORTIZING
LOAN LIMITS: $100,000 – $484,350 (SF)
INDEX: 10-Yr Treasury
TERMS: 10, 15, 20, 25 & 30 Yr

ADVANTAGES:
• Lower fixed rates than Portfolio
• Simple interest payments
• No pre-payment penalties
• No MI requirement below 80% LTV
DISADVANTAGES:
• Interest “front end loaded”
• Narrower underwriting requirements than Portfolio
• Can entail Forced MI or Escrows