Menu

Home › Forums › Housing › 15 year jumbo interest only

Viewing 15 posts - 1 through 15 (of 61 total)
1 2 3 4 5
  • Author
    Posts
  • September 14, 2009 at 5:14 AM #16338
    hammer
    Participant

    I work in the commercial real estate world and a co-worker of mine just entered into escrow last week.

    I saw his truth in lending document, and he locked an 80% loan for 1.1 million. 15 year interest only at 5.625%, with 3/4pt. I believe Union Bank of California is offering this loan. I apologize not having a link.

    The UBOC Interest only 80% jumbo rates were

    5 yr – 4.875
    7ry – 5.25
    10 yr 5.5
    15 yr 5.625

    It seems to me that the 15 year IO is a great loan.
    I am not a buyer right now, but would love to hear some thoughts

    September 14, 2009 at 5:58 AM #456313
    patb
    Participant

    sounds like we have a hypester in the pool

    September 14, 2009 at 5:58 AM #456915
    patb
    Participant

    sounds like we have a hypester in the pool

    September 14, 2009 at 5:58 AM #456846
    patb
    Participant

    sounds like we have a hypester in the pool

    September 14, 2009 at 5:58 AM #457108
    patb
    Participant

    sounds like we have a hypester in the pool

    September 14, 2009 at 5:58 AM #456505
    patb
    Participant

    sounds like we have a hypester in the pool

    September 14, 2009 at 6:29 AM #456515
    hammer
    Participant

    That is an unfair comment. Not hyping anything, just real live market info.

    I felt the 15 year jumbo IO is an interesting product if one would rather save cash than pay down principle heading into some inflationary cycle in the future. The rate seemed pretty low…just looking for more knowledgeable opinion.

    September 14, 2009 at 6:29 AM #457118
    hammer
    Participant

    That is an unfair comment. Not hyping anything, just real live market info.

    I felt the 15 year jumbo IO is an interesting product if one would rather save cash than pay down principle heading into some inflationary cycle in the future. The rate seemed pretty low…just looking for more knowledgeable opinion.

    September 14, 2009 at 6:29 AM #456856
    hammer
    Participant

    That is an unfair comment. Not hyping anything, just real live market info.

    I felt the 15 year jumbo IO is an interesting product if one would rather save cash than pay down principle heading into some inflationary cycle in the future. The rate seemed pretty low…just looking for more knowledgeable opinion.

    September 14, 2009 at 6:29 AM #456323
    hammer
    Participant

    That is an unfair comment. Not hyping anything, just real live market info.

    I felt the 15 year jumbo IO is an interesting product if one would rather save cash than pay down principle heading into some inflationary cycle in the future. The rate seemed pretty low…just looking for more knowledgeable opinion.

    September 14, 2009 at 6:29 AM #456925
    hammer
    Participant

    That is an unfair comment. Not hyping anything, just real live market info.

    I felt the 15 year jumbo IO is an interesting product if one would rather save cash than pay down principle heading into some inflationary cycle in the future. The rate seemed pretty low…just looking for more knowledgeable opinion.

    September 14, 2009 at 7:46 AM #456525
    (former)FormerSanDiegan
    Participant

    You have not given enough info to determine whether this is a good loan or not.

    I’ve seen 3-, 5-, 7-, and 10-year IOs that convert to fully amortized loans for the remaining 15 years.

    Does this 15-year IO loan convert to fully amortizing for 15 remaining years after the initial term or is the term longer ?

    Is it a balloon ?

    What is the margin, index, and cap ?

    On the surface it sounds like a 15-year rent with an option to purchase (and sell) at any time before that.

    September 14, 2009 at 7:46 AM #457128
    (former)FormerSanDiegan
    Participant

    You have not given enough info to determine whether this is a good loan or not.

    I’ve seen 3-, 5-, 7-, and 10-year IOs that convert to fully amortized loans for the remaining 15 years.

    Does this 15-year IO loan convert to fully amortizing for 15 remaining years after the initial term or is the term longer ?

    Is it a balloon ?

    What is the margin, index, and cap ?

    On the surface it sounds like a 15-year rent with an option to purchase (and sell) at any time before that.

    September 14, 2009 at 7:46 AM #456865
    (former)FormerSanDiegan
    Participant

    You have not given enough info to determine whether this is a good loan or not.

    I’ve seen 3-, 5-, 7-, and 10-year IOs that convert to fully amortized loans for the remaining 15 years.

    Does this 15-year IO loan convert to fully amortizing for 15 remaining years after the initial term or is the term longer ?

    Is it a balloon ?

    What is the margin, index, and cap ?

    On the surface it sounds like a 15-year rent with an option to purchase (and sell) at any time before that.

    September 14, 2009 at 7:46 AM #456333
    (former)FormerSanDiegan
    Participant

    You have not given enough info to determine whether this is a good loan or not.

    I’ve seen 3-, 5-, 7-, and 10-year IOs that convert to fully amortized loans for the remaining 15 years.

    Does this 15-year IO loan convert to fully amortizing for 15 remaining years after the initial term or is the term longer ?

    Is it a balloon ?

    What is the margin, index, and cap ?

    On the surface it sounds like a 15-year rent with an option to purchase (and sell) at any time before that.

  • Author
    Posts
Viewing 15 posts - 1 through 15 (of 61 total)
1 2 3 4 5
  • You must be logged in to reply to this topic.