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Our client has specifically asked for a 1mo or 6mo Libor ARM Int Only. I am having trouble locating a lender with these programs. Any gudiance is appreciated.
Best Regards
Suntrust had one last I looked. Been a month or so however.
TH
They won't like the terms anymore and qualifying is going to be at the fully indexed rate + 2% amortized over the non-interest only term (example 10yr I/O 30yr note would be over 20 years). And I have yet to see one that the cost at the highest rate on the sheet wasn't 4+ points.