LOAN TYPE: AGENCY (FNMA, FHLMC)
POSITION: 1ST
RATE TYPE: FIXED
PAYMENT TYPE: AMORTIZING
LOAN LIMITs: $484,350, $726,525
INDEX: 10-Yr Treasury
TERMS: 10, 15, 20, 25 & 30 Yrs

ADVANTAGES:
• Eliminates up-front 3rd party settlement costs
DISADVANTAGES:
• Higher fixed rate and servicing payment than par pricing