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Best Nationwide Loans
19600 Fairchild Road, Suite 290
Irvine, CA 92612
Toll Free: 888-801-3000
Fax: 888-595-7274
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Home arrow Loan Glossary
Loan Glossary

1

10/1 ARM Loan
This 30-year mortgage offers a fixed interest rate for the first 10 years and then turns into a 1-Year Adjustable Rate Mortgage for the remaining 20 years of the loan.
1031 Exchange

Section 1031 of the Internal Revenue Code, 26 U.S.C. § 1031, provides: "No gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held either for productive use in a trade or business or for investment."

107% Home Purchase
A 107% mortgage is an option for anyone looking to purchase 100% and not paying for closing cost. The 107% mortgage loan is available for owner-occupied properties and second homes.
125% Equity Loan
A loan, usually a mortgage, with an initial loan amount equal to 125% of the initial property value. In other words, a 125% loan has a loan-to-value ratio (LTV ratio) of 125%.
Today's Rate
5.0%
* 5.372% APR. The displayed annual percentage rates (APRs) include total Points and additional prepaid finance charges but do not include other Closing Costs. On adjustable-rate loans, rates are subject to increase over the life of the Loan.
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