Posted on: 26th Sep, 2006 08:04 pm
If I decided to go with COSI, What is the current index? Can I set the negative amortization cap to only %100? and the fully and intial rate are set to fixed rates?
Also where I can get the current index value?
Also where I can get the current index value?
Hi pabouk,
"If I decided to go with COSI, What is the current index?"
The current index for COSI loan as published by the Federal Housing Finance Board on the 29th of August is 4.340.
"the fully and intial rate are set to fixed rates? "
The COSI is one of the most stable indexes available for adjustable rate mortgages (ARMs). It is widely used for Option ARMs. So, the rates are not fixed; instead they are variable.
Thanks,
Sara
"If I decided to go with COSI, What is the current index?"
The current index for COSI loan as published by the Federal Housing Finance Board on the 29th of August is 4.340.
"the fully and intial rate are set to fixed rates? "
The COSI is one of the most stable indexes available for adjustable rate mortgages (ARMs). It is widely used for Option ARMs. So, the rates are not fixed; instead they are variable.
Thanks,
Sara
Hi,
The negative amortization cap for COSI is set in between 110%-125% of the original loan balance.
For the current index value of COSI and related information, refer to our previous discussions.
Thanks,
Caron.
The negative amortization cap for COSI is set in between 110%-125% of the original loan balance.
For the current index value of COSI and related information, refer to our previous discussions.
Thanks,
Caron.