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Welcome to
Carteret Mortgage!
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MTA MortgageMTA mortgage products are flexible. MTA Mortgage products are used on my home and investment property MTA Mortgage products manage cash flow. Income varies and unplanned expenses come up. Our mortgage payment is our largest monthly expense, and the least flexible. MTA mortgage products are designed to give control over your mortgage payment. Choose one of four mortgage payment options monthly based on your cash flow needs. Minimum MTA Mortgage Payment A payment is set for 12 or 60 months. The minimum payment rate for the 12 month option is 1.00% and the 60 month option is 1.90%. This maximizes cash flow and may defer payment of interest allowing greater flexibility in managing tax deductions. This minimum payment can not increase by more than 7.5% each year. Read more about the tax considerations of an MTA Mortgage. For concerns over deferred interest, read about the small amount of appreciation required to offset it. Interest Only MTA Mortgage Payment Defer paying principal and improve cash flow. Fully Amortizing Payment Options You may make a principal and interest payment based on a 30 year or 15 year payment schedule. I have included an MTA Mortgage statement as well. You may choose your index. Choose from the 1 month LIBOR or the MTA. Here is a 10 year average comparison between a 30 year fixed and fully indexed LIBOR, MTA, COFI, and the 1 year Treasury Index in chart form. Additional Options If you want the additional security of a fixed payment while still taking advantage of the low MTA mortgage payment rate, there is a 5 year fixed payment option. With this option, you have a fixed minimum payment for five years. You have the four payment options to select from to manage cash flow. And, you may increase the term of your loan from 30 to 40 years lowering your payment even further. LTVs are up to 100%! The Minimum Payment Advantage The example below is based on a $400,000 mortgage. It compares a traditional 30 year fixed rate payment based on the above 10 year average to the minimum payment available on the MTA mortgage based on the 10 year average. Assumes that the Minimum Payment increases by the maximum 7.5% per year. 30 Fixed Cash Flow Minimum Monthly Savings Annual Savings Year 1
$2,855
$1,287
$1,586
$18,816
Savings over 3 years $52,872 Learn more about MTA mortgage closing costs. I have developed a document detailing how this program works. Email requesting a copy of "Understanding the MTA Mortgage". I have added a website dedicated solely to MTA Mortgage. Here is a useful MTA Mortgage payment calculator Read very important information about MTA Mortgage Prepayment Penalties As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your consumer and mortgage debt is structured today can have a life changing effect in the years to come. Read more about this free, no obligation service. New!
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