New Mortgage 'Rate Relief' Program Offers Discounted Rates as Low as 4% on Fixed Rate, Zero-Down Home Loans

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Katz Mortgage Team, http://www.KatzMortgageTeam.net, of Amtrust Mortgage Corporation, announces a new mortgage program called "Rate Relief," which offers borrowers a discounted interest rate for the first two years of their home loan. This program can be used with a variety of loan products including 15- and 30-year fixed, interest only and Zero-down loans.

Katz Mortgage Team, http://www.KatzMortgageTeam.net, of Amtrust Mortgage Corporation, is pleased to announce they now offer a new discounted mortgage program called "Rate Relief," which offers borrowers a discounted interest rate for the first two years of their home loan. This program can be used with a variety of loan products including 15 and 30-year fixed, Interest-Only and Zero-Down loans.

The way the program works is simple. The mortgage payment in years one and two are discounted and calculated at rates 2 percent and 1 percent, respectively, below the borrower's permanent interest rate. For example: If a borrower locks in a market rate for a 30-year fixed mortgage at 6 percent, the borrower would initially pay an interest rate of only 4 percent the first year, 5 percent the second, and 6 percent in years three through 30. The cost of this buydown can be paid for by the seller/builder, or financed. The "Rate Relief" program is the most effective way to reduce expense ratios because the payment reduction is concentrated in the early years of the home loan. The expense ratios used to qualify the borrower are based on the reduced payment made by the borrower in the first month.

"This program is perfect for first time homebuyers and borrowers who need to financially grow into their home, but don't like the uncertainty of adjustable rate mortgages," states Stephen Katz of Katz Mortgage Team. "The average first time home buyer would save $200-$400 each month -- or more -- during the first year of their mortgage, and half as much in the second, depending upon the size of their mortgage." The savings can also be magnified if matched up with an interest-only fixed rate mortgage.

The advantage of the "Rate Relief" mortgage program is obvious for home loan borrowers. Anytime a borrower can lower their initial monthly mortgage payments, they qualify for a higher sales price home. Or, if refinancing an existing mortgage, the borrower would further lower their payments, using this savings to pay off other bills, or to invest in high yield financial instruments. This loan provides home loan borrowers the benefit of a lower start rate, such as an ARM, but with the long-term stability of a fixed rate loan.

Katz further states, "Our new Rate Relief program is just what the doctor ordered for first time homebuyers or any borrower who wants a lower initial mortgage payment. We feel the program meets the needs of many of our customers who want a fixed predictable mortgage payment without the market risk that adjustable carry. It's definitely the best of both worlds."

About Katz Mortgage Team

Katz Mortgage Team, backed by Amtrust Mortgage Corporation and headquartered in Atlanta, Georgia, is a high-performance team of top mortgage professionals with a commitment to providing the highest level of personal service to customers in 24 states across the nation. As a full-service residential mortgage lender, Katz Mortgage Team specializes in residential mortgages, mortgage refinancing, adjustable rate mortgages (ARMS), fixed rate mortgages and a wide variety of Interest-Only loans attractive to real estate investors seeking investment properties.

About Amtrust Mortgage Corporation

A leader in mortgage banking, Amtrust Mortgage Corporation specializes in retail mortgage lending and is one of the largest independently owned mortgage companies in the nation. Constantly expanding coverage, Amtrust currently operates in the following states: Alaska, Alabama, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Illinois, Indiana, Maryland, Michigan, Mississippi, Missouri Minnesota, North Carolina, New Jersey, New Mexico, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and Washington.

For more information, contact:

Stephen Katz - Senior Loan Officer

866 742-8400 (toll free)

http://www.KatzMortgageTeam.net

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