The recent move to the highest mortgage rates in three weeks has created uncertainty for many buyers. With rates going up can we really afford a new home right now? FDM has a program to make your monthly mortgage payments lower. FDM’s Mortgage Power Program allows you to reduce your mortgage payment rate down a full two percent for one-year saving you money each month. For example, if your mortgage rate is 6.8%, You can lower your first-year mortgage payment rate to 4.8% for a full year. Your mortgage rate is 6.8%, but your first-year mortgage payment is based on a 4.8% payment rate. After the first year your mortgage payment rate remains one percent lower than the note rate. For example, if your mortgage rate is 6.8%, your second-year mortgage payment rate is 5.8% for a full year. This is a fantastic way for you to lower your monthly payment while you ease into homeownership. When mortgage rates improve, FDM will refinance to your mortgage for free. Move quickly to take advantage of today’s lower rates. Contact your FDM Mortgage Professional today and ask about the FDM’s Mortgage Power Program and how you can lower your mortgage payment rate by 2%. “You Must Have Balance”
