5/1 FLEX LOANS
Our 5/1 FLEX LOAN RATES & TERMS:
Single family, condos, townhomes, 2-4 units
$75,000 – $970,800
5 to 7 years fixed
A 5/1 hybrid adjustable-rate mortgage (5/1 ARM) begins with an initial five-year fixed interest rate period, followed by a rate that adjusts annually. The “5” in the term refers to the number of years with a fixed rate, and the “1” refers to how often the rate adjusts after that (once per year). As such, monthly payments can go up—sometimes dramatically—after five years. Financing a property with bank statement loans is a quick and straightforward process for an experienced lender like American Heritage Lending.
5/1 FLEX FINANCING
Also known as a five-year fixed-period ARM or a five-year ARM, this mortgage features an interest rate that adjusts according to an index plus a margin. Hybrid ARMs are very popular as they feature an initial interest rate significantly lower than a traditional fixed-rate mortgage.
5/1 Flex loans offer a flexible lending option to help consumers meet their unique financing goals including lower introductory rates than traditional fixed-interest mortgages. These types of mortgages are ideal for buyers who will live in their homes for short periods of time.
American Heritage Lending helps its clients qualify for loans without the traditional income qualification standards.
WHY CHOOSE A 5/1 FLEX LOAN?
Many buyers will likely have difficulty getting loans through a traditional lender like a bank or credit union. With American Heritage Lending, we offer you a variety of financing solutions to fit your needs.
We understand the need to move quickly when opportunities arise. Our application, appraisal, and approval process can be accomplished in just a few days to ensure you can negotiate effectively with the property holder.
USE OUR 5/1 FLEX LOANS FOR THE LOWEST MONTHLY PAYMENT
A 5/1 hybrid ARM could be a good choice for homebuyers who don’t plan to stay in the home long term or who are confident in their ability to refinance to a new loan before the rate adjusts. If interest rates remain low and adjustments to the index rate are relatively minor, then a 5/1 hybrid ARM could save you more money over time than a fixed-rate mortgage.
A borrower can save a significant sum on their monthly payments with a 5/1 hybrid ARM. Assuming a home purchase price of $300,000 with a 20% down payment ($60,000), a borrower with excellent/excellent credit can save 50 to 150 basis points on a loan and more than $100 per month in payments on their $240,000 loan. Of course, that rate could rise, so borrowers should anticipate a rise in their monthly payment, be prepared to sell their home when their rate goes up, or be ready to refinance.
AMERICAN HERITAGE LENDING, LLC STATE LICENSING INFORMATION - NMLS ID: 93735
Click here for access to the Consumer NMLS
FHA Lender ID 27897-0000-1 ⋅ VA Lender ID 902138-00-00
State licenses: Arizona Mortgage Banker License 0912684; California - Department of Financial Protection and Innovation, Pursuant to California Financing Law License Number 603G668; California - DRE Real Estate Corporation License Endorsement 01844643; Colorado Mortgage Company Registration 93735; Florida Mortgage Lender License MLD94; Iowa Mortgage Banker License 2018-0155; Maryland Mortgage Lender License 18412; Nebraska Mortgage Banker License 93735; Oregon Mortgage Lending License ML-4808; Virginia Broker License MC-5775; Virginia Lender License MC-5775; Washington Consumer Loan Company License CL-93735.
Submitting a form from this website does not obligate you to enter into an agreement with American Heritage Lending, LLC; nor does it constitute an application for a mortgage loan. Submitting this form does authorize yourbridgelender.com to deliver this form to a American Heritage Lending, LLC mortgage loan officer who will contact you by phone and/or email to respond to your inquiry into the American Heritage Lending, LLC mortgage programs and financing solutions.
American Heritage Lending, LLC, is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is: Federal Trade Commission, Equal Credit Opportunity, Washington, DC 20580.