Visit http://ingdirect.com/easyorange to find out about their 3.99% 5-year fixed mortgage available to buy homes at up to $750,000 in value. That's a great rate!
So what's the catch? Well, it is just for 5 years for starters. Second, they will only loan up to 75% of the value of the home. That cuts out a lot of people - like me - who would never have that much to put down on a home.
One cool feature is you can make bi-weekly payments to add one extra payment to your year to pay off your home faster. If you do that math you'll find that you can shave five or more years off of a mortgage by making just one extra payment a year.
Of course, the loan is only for five years. They say you can extend it after the first six months for another five years as long as you're willing to pay them the amount of one extra payment. That sounds like a pretty big fee. At any rate this could be good for those who have a short-term horizon and would like a great rate during that period.
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