Carmel Mortgage offers new 30 year fixed loan with 10 year interest only option. Pay interest only for a full 10 years, or pay down your principal quickly.

CARMEL, CA (PRWEB) February 1, 2006 -- CARMEL MORTGAGE now offers a full 30 year fixed loan, with a 10 year interest only option. For the entire term of this loan, the rate never changes.

For example, if you have a $500,000 loan with an interest rate of 6.5%. Your interest only payment would be $2708, or the principal and interest payment would be $3160. You can pay either one it’s your choice every month for 10 whole years.

This loan never goes to negative amortization. You can pay down extra principal at any time, and if you do, your payment will go down the following month. This is called “recasting your payment.”

A footnote, if you pay interest only for the first 10 years, then the loan converts to a 20 year amortized loan after the interest only option expires.

Carmel Mortgage is in its 25th year of business and has funded billions in loans.

We have hundreds of banks and lenders, and thousands of programs for you to choose from. We choose the right loan for your home financing needs and goals.

Call me directly or email me for the details on this and other great loans for you to choose from.

Cheryl Whitworth-McVicar
President/ Senior loan officer
Carmel Mortgage
www.Carmel-Mortgage.com
200 Clock Tower Place E-150 Carmel 625-3939
364 South Main Street Salinas 754-3939





;


Back

• Most any large city has a number of small shops offering payday loans. They’re often found in strip centers; sometimes they double as pawn shops. They have a simple business – they lend you money until your next paycheck. The system is pretty convenient; you write them a postdated check for the amount you’re borrowing plus interest. On your next payday, they cash the check and your loan is paid off. What many people who use payday loan services fail to realize is that the interest rates charged by these firms are substantial, often reaching the equivalent of four hundred percent per year!
  
  
• To get a secured loan it can take time for loan approval, as the property will be inspected and appraised. Unsecured loans such as credit cards are usually faster to acquire, however the loan approval time may include a credit check. A credit check involves a lender getting a copy of your credit report to inspect your credit history.
  
  
• Credit card balance transfers
  
  
• All kind of loan – educational loans, auto loans, secured loans, unsecured loans, personal loans and any kind of loans – can be consolidated under debt consolidation mortgage. It is highly appropriate to adopt debt consolidation mortgage if you have numerous debts. However, a prudent step will be to understand debt consolidation if you actually want to apply for it. Debt consolidation mortgage has the capability to be turned in a way so as to allow maximum monetary benefits. Yet, one little error with debt consolidation mortgage and your situation will be back to square one.