Global Bankers Trust - Coral Gables, Florida

Global Bankers Trust

Alhambra West Building
95 Merrick Way, Suite 480
Coral Gables, FL 33134
(305) 461-1010

MTA Mortgage Loans

Special Offers

1-Month Option Adjustible Rate Mortgage
Puts you in control of your home loan.

Here's how it works
Each month, you will receive an easy-to-read loan statement that lets you choose the payment amount that best suits your current financial needs. Pay the minimum amount to free up funds for other uses, or make larger patments for faster equity build-up.

Loan Features
A fixed interest rate for an initial 1-month period; thereafter the interest rate may change monthly
A minimum payment amount that adjusts on an annual basis subject to a 7.5% payment change cap.
A 7.5% payment change cap limits how much the minimum monthly payment can increase or decrease from the previous minimum payment, except on the fifth year of your loan and every five years thereafter.
A lifetime interest rate cap that protects you by limiting how high your interest rate can go.

What is the benefit of a 1-Month Option Adjustable Rate Mortgage?

FLEXIBILITY!

Option 1: Minimum Payment Due
This option gives you more cash now and keeps your monthly payments manageable.
Payment changes annually and is calculated using the initial interest rate for the first 12 months
The minimum monthly payment is usually recalculated annually thereafter; and is based on the outstanding principal balance, remaining loan term and prevailing interest rate
7.5% Payment Change Cap limits how much this option payment can increase or decrease each year
(During the initial interest rate period, Option 1 represents a full principal and interest payment; therefore, Option 2 and 3 are not applicable.)

Option 2: Interest Only Payment
At those times when the minimum monthly payment is not sufficient to pay the monthly interest due, you can avoid deferred interest by paying the minimum monthly payment plus any additional interest accrued during the month.
Payment remain manageable, with no change in your principal balance for that month
(Option 2 will not be offered if the interest only payment is less than minimum payment due.)

Option 3: 30-Year Full Principal and Interest Payment
This is the fully amortized payment based on a 30-year loan.
Calculated each month based on the prior month's interest rate, loan balance and remaining loan term.
Pays all the interest due and reduces your principal, to pay off your loan on schedule.
(option 3 will not be offered if the full principal and interest payment is less than the minimum payment due.)

Option 4: 15-Year Full Principal and interest Payment
For faster equity build-up, quicker payoff and substantial interest savings, choose the largest monthly payment option.
Calculated to amortize your loan based on a 15-year term from the first payment due date.
(Option 4 will be offered only on the 30- or 40-year term and will cease to be an option when the loan has been paid down to its 16th year.)

Manage Cash Flow

Minimum Payment Due
Interest Only Payment
30-Year Full Principal and Interest Payment
15-Year Full Principal and Interest Payment
At last, a mortgage that puts you in control of your monthly payments.

Up to four payment options each month:
Having up to four payment options allows you to manage your cash flow and overall financial picture on monthly basis.
If rates increase , you can pay the minimum amount (Option 1), in which case some of your interest would be deferred. Deferred interest, also known as negative amortization, occurs when the monthly payment is not sufficient to cover the interest accrued during the prior month. The unpaid interest is added to the balance of the loan, rather than increasing the current monthly payment.
You can avoid deferred interest and take advantage of the maximum tax benefit in the current year by paying Option 2 or 3.
Rate decreases may result in accelerated amortization, reducing principal or any unpaid interest more rapidly.

Increase Flexibility
After considering your monthly financial objectives, choose the available option that best suits your needs. Just enter the amount of the o option selected in the payment coupon sectioin of the loan statement. In addition to the four payment options, your monthly statement will show, if applicable, the total amount of unpaid deferred interest on your loan. You may pay all or part of this deferred interest at any time. No options will be offered if the loan is delinquent, then the total amount due will be required.

For More Information
Contact Global Bankers Trust at 305 461-1010 Extension 204

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