Conventional Loan Programs
Conventional Fixed Rate Mortgages
If you favor a fixed monthly payment, Capital Trust Mortgage Corp. offers competitively priced 10, 15, 20 and 30 year conventional Fannie Mae and Freddie Mac loans. In all cases the principal balance is reduced with each monthly payment. Fixed rate mortgages are available from as low as $30,000.00 to $453,100.00
Conventional Adjustable Rate Mortgages (ARMs)
Six Month Adjustable Rate Mortgage this type of mortgage interest rate and monthly payment may be adjusted every six months. Rates could go up, resulting in higher payments or down, giving you the advantage of lower payments. Another feature of this type of mortgage is its semiannual and lifetime cap. This means that there is a set limit to the amount your interest rate can increase in each six month period and in its lifetime. So, should interest rates increase to a great extent, your ARM rate will not.
One Year Adjustable Rate Mortgage offers many of the same features as our six month ARM: attractive starting rate, payment protection features, superior annual and lifetime rate caps, protection against "negative amortization," and terms of up to 30 years. However, instead of a possible interest rate and monthly payment adjustment every six months, this mortgage is subject to adjustment only once a year. The index for the one year ARM is based on the One Year U.S. Treasury Security yield.
3-1 ARM, 5-1 ARM, 7-1 ARM & 10-1 ARM Loans
3/1, 5/1, and 7/1 Adjustable Rate Mortgages This type of mortgage offers a very attractive feature, where the interest rate is fixed for 3, 5 or 7 years, respectively, and it becomes an adjustable rate at the end of the third, fifth or seventh year anniversary, respectively. The adjustable feature will be similar to the one year ARM program.