Company description::
Irvine, Calif., December 18, 2003 – HomeLoanCenter.com, the leading online full spectrum mortgage lender announced that the rise in interest rates has fueled the demand for adjustable rate mortgages (ARM). ARM programs typically offer lower interest rates than traditional fixed rate loans. In general borrowers can secure an interest rate one percentage point lower on a five-year ARM than on a 30-year fixed loan program.
What is an ARM?
Unlike fixed-rate mortgages, which lock in a rate for the entire life of the loan, ARMs guarantee a certain interest rate for a shorter period of time, ranging from one month to 10 years.
Is an ARM right for you?
For many first time buyers ARMs can be the best option. Today's homeowners no longer live in a home for 20 or 30 years. If you only plan on being in your home for 5 to 8 years and want to save money, then an ARM may the be right choice for you.
For more information about ARMs and other mortgage options visit www.homeloancenter.com or call 1-800-94-CENTER and speak with a qualified mortgage banker.
About HomeLoanCenter.com
HomeLoanCenter.com (http://www.homeloancenter.com/), is a branchless, retail mortgage lender dedicated to bringing consumers direct access to the most diverse array of mortgage products available in the industry, through its innovative website and call center. Anthony Hsieh, former founder and CEO of LoansDirect, Inc. founded Home Loan Center in 2002. An approved mortgage banker in 50 states and D.C., the company has developed a second-generation Internet platform that delivers a superior lending experience to all borrowers regardless of credit profile, loan type, or loan amount, through its proprietary technologies PACE and CHLOE.
PACE utilizes consumer credit profiles, searches through thousands of loan programs, and returns program eligibility and pricing directly to potential borrowers after reviewing approximately 1,500 loan guidelines, 56,700 lender fee rules and over 10,000 pricing adjustment rules. Within seconds, PACE returns a complete risk-based selection of loan programs with accurate pricing, directly to consumers via HomeLoanCenter.com’s call center or web site. CHLOE is HomeLoanCenter.com’s proprietary LOS system designed to streamline processing and settlement functions for the 6000+ loan options available to HomeLoanCenter.com customers.
HomeLoanCenter.com offers industry leading performance and service guarantees and is staffed by highly seasoned and experienced mortgage professionals. The company's executive management team, many of them pioneers in the virtual mortgage arena, have over 100 years combined experience in the mortgage industry.
PACE and CHLOE are trademarks of HomeLoanCenter.com Inc.
Corporate Contact:
Jason Jepson
HomeLoanCenter.com
949-885-3523
jason.jepson@homeloancenter.com
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