Rancho Cucamonga, CA (PRWEB) March 23, 2006
Statewide Bancorp, Inc., a mortgage company, today announced the much-anticipated release of the 50-year loan. This new loan allows consumers to qualify for more home and borrow over a longer period of time to keep payments manageable.
"In today's real estate market place, pay option ARM's and interest only mortgage's have become very popular loan programs and now there’s an alternative to these loans that also maintains low payments but are fully amortized over 50 years," said JR Diaz, Vice President of Statewide Bancorp, Inc. "As consumers are increasingly looking to access the equity in there homes, Statewide has made the process simple and affordable, by allowing homeowner's access to capital for any needs they may have with their homes equity."
Many homeowners today are strapped by high interest credit cards and now that credit card companies have doubled their minimum payments many homeowners are taking advantage of today’s low rates by consolidating their debt. This new offer may help lower their monthly payments by hundreds of dollars and even leave them with some extra cash. Common uses of this new loan include buying a new house, consolidating debt, funding education, and making home improvements, all at a lower interest rate than is available with credit cards or other unsecured debt. And even with credit problems they still may qualify for this new special program.
This new product allows homebuyers and homeowners alike to borrow more by amortizing the debt over a longer period of time, which allows them to lower their monthly mortgage payments. Pay Option and interest only ARM’s have become a very popular program over the last few years but there is no principle reduction and possible negative amortization. Homeowners that have taken these products for the low payment option should consider calling to convert over to a 50 year loan, before it’s to late. Statewide's product is designed to meet this growing demand amongst homeowners for a simpler way to leverage their home equity or to qualify for a new home. With today's increasing home prices affordability has become a real concern.
Homebuyers and homeowners that are interested in taking advantage of this special new product can now visit http://www.statewidebancorp.com or call us toll-free at 1-800-596-1440.
Statewide Bancorp is one of the countries fastest and most innovative mortgage brokerages. Statewide Bancorp has developed a process that enables the company to work efficiently with minimum overhead. The streamlined approach enables the company to offer competitive rates and fees. For more information about Statewide Bancorp, visit http://www.statewidebancorp.com.