One monoline lender is offering a new product specifically aimed at clients who are willing to sacrifice certain mortgage privileges for lower rates.
Financial has added a five year adjustable rate mortgage to its product line.
The Ratewise five year ARM is compounded semi-annually; has 10/10 prepayment privileges, offers refinancing options and the ability to convert to a Ratewise five year fixed rate (for a three month interest penalty).
“Consumers are continuously looking for greater savings and flexibility in their mortgage; the Ratewise ARM offers a great balance between interest savings and mortgage feature flexibility,” Suzanna Stefanec, V.P. of National Sales & Products for Radius
Financial said in an official release. “With the success of our Ratewise 45 and Ratewise 90 products, we wanted to expand this product line to include a variable option, which has become an attractive choice for consumers.”
This recent addition to its product lineup is the most recent move in proving the lender’s commitment to the broker network.
Financial continues to grow, we are committed to expanding our product lines while continuing to offer service excellence to our valued broker partners and their customers.”