Lender Launches 50-Year Loan - Mortgage Forums for Mortgage Brokers

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		Mortgage Forums for Mortgage Brokers > Mortgage Business > Mortgage News
Lender Launches 50-Year Loan

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03-30-2006, 06:13 AM

Veronica Corningstone Veronica Corningstone is offline

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Lender Launches 50-Year Loan

Statewide Bancorp Inc. recently announced it is offering 50-year mortgage loans. The 50-year loan is initially fixed for five years and thereafter adjusts to the 6-month London Interbank Offered Rate plus a 2.75% margin, a company spokesman told MortgageDaily.com.

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