Angel Oak Mortgage Solutions LLC, the Atlanta-headquartered wholesale and correspondent non-qualified mortgage (non-QM) lender, has expanded is product line with the debut of 5-year and 7-year Adjustable-Rate Mortgages (ARM).
According to the company, the new ARM products feature a fixed interest rate for an initial period of either five or seven years before adjusting on a six-month basis based on market conditions.
“With rate expectations shifting and borrowers demanding more choices, these ARM products give originators new tools to serve clients seeking to optimize affordability and potentially take advantage of future rate movement,” said Tom Hutchens, president of Angel Oak Mortgage Solutions. “This launch underscores our commitment to supporting the non-QM ecosystem, from self-employed borrowers and real estate investors to creditworthy individuals who don’t fit the traditional lending box.”
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