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March 2003

New ARM program with Great Rates

We are pleased to announce a great new ARM product that is available for Commercial and Multi-Unit (5+) Residential Properties located in Eastern Massachusetts.  

Current rates, which are subject to change, are as follows:

  • 3/1 ARM — 5.25%
  • 5/1 ARM — 5.875%
  • 7/1 ARM — 6.50%
  • 10/1 ARM — 6.99%

Other program highlights include:

  • Loan amounts up to $5,000,000
  • Up to 80% LTV, even on cash-out refinances
  • Amortization up to 25 years
  • 0 points to the End Lender
  • No Balloon
  • Rate can be locked at time of application
  • Interest rate based on Prime plus 1%