Use “FLEX TERMS” to Meet Your Borrower’s Home-ownership Goals
Pick a Loan Term
• 8-10 Year Terms price off 10 Year Fixed Rates
• 16-20 Year Terms price off 20 Year Fixed Rates
• 11-15 years price off 15 Year Fixed Rates
• 21-30 years price off 30 Year Fixed Rates
How “FLEX TERMS” can work for your Borrower
Stay on Track with Current Amortization
Your borrower has paid seven years on a 30-year fixed mortgage and does not want to go back to a 30-year term. The FLEX TERM allows them to refinance at 23 years to stay on track. The FLEX TERM offers this kind of flexibility!
Pay off the Mortgage More Quickly
Borrowers pay extra towards their mortgage every month to pay it off as soon as possible, but they’re unhappy with the high mortgage interest rate. The FLEX TERM is the answer! Now borrowers can choose a lower term, with a potentially lower interest rate, to help them pay off their loan in less time.
Choose a Term Based on Budget
Borrowers can tell you how much they can afford you can help them find a term to fit their financial needs. The FLEX TERM terms can be tailored to match your borrower’s budget, and can potentially shave off years of the life of their loan and save them thousands in interest!
Match the Term to Life Events
If you have borrowers thinking about retiring soon, or have a child go off to college, and they want to free up additional money by paying off their home loan early, the FLEX TERMS is a great option for them! Use the FLEX TERMS to help your borrower eliminate the financial burden of a monthly mortgage payment at the time when they will need that extra money the most.