Basic Loan Terms.
Some Owners May Choose A Variant Of The Three Terms.
(Short Term) 18-36 Months – Amortized At 30 Years
- 10% Down
- 10% Interest
- Payment Includes PITI
- Closing Costs = 1st Payment Amount
- No Pre-Payment Penalties
- Buyer Responsible For Repairs
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(Medium Term) 36-60 Months – Amortized At 25 Years
- 15% Down
- 9% Interest
- Payment Includes PITI
- Closing Costs = 1st Payment Amount
- No Pre-Payment Penalties
- Buyer Responsible For Repairs
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(Long Term) 60-120 Months – Amortized At 20 Years
- 20% Down
- 8% Interest
- Payment Includes PITI
- Closing Costs = 1st Payment Amount
- No Pre-Payment Penalties
- Buyer Responsible For Repairs
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