[URY914]

This is the one we're looking at..........

Mortgage Type:
Right Time 5/5 ARM
Advantages:
Initial interest rate remains the same for the first five years. After that the rate can only change once every 5 years.
Suncoast will pay up to $2500.00 of your closing costs. (see website for details)
90% Financing available for the purchase of a primary residence without Private Mortgage Insurance (PMI) or up to 95% with PMI.
Cash out up to 80% LTV for the payoff of your 1st and 2nd mortgage or SSFCU accounts.

Best Choice If:
You plan to stay in your home 10 years or less.
You need to maximize your purchasing power by selecting the lower rate ARM with a lower initial payment.

Disadvantages:
It's riskier than the 30 year fixed rate if you don't expect your income to increase over the initial 5 year period to cover the possible increase in your monthly payment.

ARM Features:
Rate caps =2.0% per annual adjustment and 6% over the initial rate for the life of the loan.
Index = 5-year CMT
Margin = 2.50%
Interest rate remains the same for 5 full years. The rate adjust every 5 years thereafter