Loan term: 30 year

Minimum down payment: 5 to 10% depending on program

Closing costs can be paid by seller either by seller concession or adding to sales price.

Properties: 1-4 unit

1 Year Treasury Index: adjusts annually. Has 2% annual rate cap and 6% life cap.

6 Month LIBOR index: adjusts semi-annually, has 2% annual rate cap and 6% life cap.

COFI Index: adjusts semi-annually, has 2% annual rate cap and 6% life cap.
This index is typically a slow moving index. Over the past 10 years it has
averaged 1.25% below the prevailing fixed interest rate.