ResMAE Mortgage Corp., Brea, Calif., has announced the introduction of a 40/30 mortgage loan product that amortizes over 40 years and is due in 30 years.The company said the loan will "provide homeowners with a lower monthly payment without the major increases associated with other loan products" such as interest-only mortgages and payment-option adjustable-rate mortgages. The ResMAE 40/30 loan will offer the lowest possible payment over 30 years and a chance to build equity, the company said. ResMAE can be found on the Web at http://www.resmae.com.
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