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interest only: FHA may be Your Best Choice - 07/04/11 11:10 PM
The demise of subprime, no-documentation and no-down-payment loans is more than three years in our rear view windows. Many folks with credit challenges and little cash have turned to Federal Housing Administration (FHA) and Veterans Affairs (VA) loans for their home financing needs.\
While the FHA has recently tightened itsstandards, it’s one of the only options for a low down payment. Consider the following:
FHA loans require just a 3.50 percent down payment in most areas. Maximum allowable loan amounts vary from $271,050 to $793,750, depending upon the area. Interest rates are competitive. Today’s 30-year fixed rates are as low as … (3 comments)

interest only: Choosing the Right Mortgage for Investment Property - 07/15/07 08:36 PM
Down payment:The first question to ask is “how much money should I put down?” I am of the belief that “cashis king” and that it’s better to have your money in the bank than in the property. That said, I alsobelieve that one of the most important aspects of real estate investing is your cost of debt.Unfortunately, when it comes to getting your mortgage, these two philosophies conflict. Furtherexamination is necessary. Let’s look at the effective rate on interest if you make the followingdown payments:0% - 10.00%5% - 8.00%10% - 7.00%20% - 6.50%I get many calls per day from borrowers asking … (0 comments)

interest only: Loan Q & A: Will I build equity faster by going with an Interest Only program? - 07/05/07 02:06 PM
Stephen,My wife and I are planning on buying a new home and are trying to decide on financing options. The house is $250,000 and we want to borrow $200,000 and were originally interested in a 5/1 ARM. I spoke to one loan officer who suggested that I would build equity faster by going with an "Interest Only" program and use the savings to prepay the principal. Is this true?- Marc J. in Fairfax, VA Marc, this is a question I get all the time, let's break it down and say that the rate on the 5/1 ARM you are considering is … (2 comments)

 
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Stephen Katz

Atlanta, GA

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Katz Mortgage Team, a branch of VanDyk Mortgage Corporation

Address: 800 Johnson Ferry Road, Atlanta, GA, 30342

Office Phone: (866) 742-8400

Cell Phone: (770) 552-1000

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