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Fixed Rate Extendable
Interest rate and payments remain the
same until the adjustment period, usually 5 or 7 years. The interest rate and payment is then
adjusted reflecting a predetermined margin added to a current index at the time of the extension.
The rollover (extension) is conditional. Normal conditions would be: 1.Borrower still lives in the property.
2.Borrower's payments are and have been current 3.An index hadn't risen past a predetermined ceiling.
(Check with your broker/lender for these and other possible conditions for extension).
if you are in the Charlotte area and want information on a Fixed Rate Extendable, contact STSFC today.
Fixed Rate Extendable help for Charlotte, Huntersville, Concord, Matthews Rock Hill and all of the Western Carolinas.
Lee Sharpe of STS Financial is a Huntersville Mortgage Broker providing Charlotte home loans with 100% financing options for and mortgages for all of North Carolina.

