LOAN TYPE: AGENCY (FNMA, FHLMC), Jumbo
POSITION: 1ST
RATE TYPE: ADJUSTABLE
PAYMENT TYPE: AMORTIZING
LOAN LIMITS: $484,350, $2 Million
INDEX: Libor
TERMS: 3, 5, 7 and 10 Yrs

ADVANTAGES:
• Lower rates, servicing payments and cash flow than Conventional loans
DISADVANTAGES:
• Fully indexed rate can exceed Conventional loan rates after sunset period has elapsed