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Alternative Mortgage

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Icon Mini Profile Sam
Sam
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Joined: 21 May 2005

Posts: 207
Location: CALIFORNIA


93.46 Dollars($)

PostPosted: Wed Jun 23, 2004 5:21 pm    Post subject: Alternative Mortgage

Alternative Mortgage is any home loan that does not conform to standard fixed rate mortgage.

Features of alternative mortgage are as following:
  1. It is a non conforming loan which can include-
    • Adjustable rate mortgage
    • Reverse annuity mortgage
    • Graduated-payment mortgage

  2. It may vary in following-
    • Interest rate
    • Maximum loan amount
    • Loan to value ratio

 
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