For those who haven’t yet heard, ResMor Trust launched a new 4-year variable mortgage on April 22.
It is currently offered at a very competitive rate of prime + 0.60%. That’s about 0.15% to 0.20% below most other lenders.
This new 4-year product is in addition to ResMor’s existing 5-year variable.
Anne Wright, Director of National Sales, says, “Our objective was to offer a unique ARM product at an aggressive rate for clients.” She says brokers in ResMor’s Elite and Super Elite program can discount the rate even further.
If you’re interested in this mortgage you’ll need to be fairly well qualified (at least a 650 credit score). You’ll also need at least 10% down.
Homeowners can contact any ResMor-approved broker for more information. Brokers should contact their ResMor BDM.
ResMor Trust Company is a federally regulated trust company providing residential mortgages, mortgage servicing and deposit products through independent brokers. As of April 3, 2009, ResMor had over $5 billion of mortgages under administration representing more than 33,000 homeowners.