TRIM allows you to lower your mortgage payments with a one-time float down/adjustment to your interest rate within the first 5 years of your closing. Get peace of mind knowing you aren’t locked into today’s market rates with the TRIM mortgage.

Dream homes don’t wait. So, buy the home now, and float down your rate* later.

Once you decide to float down, simply contact our Servicing Department at 617-547-3144 option 7. Your new, lower rate will be locked in on the day you communicate with us, and at no additional cost!

Eligibility

• The property must be the borrower’s primary residence
• The maximum loan amount is $800,000 with a 95% Loan-to-Value (LTV)
• Minimum FICO score of 620 is required
• All loans are underwritten according to secondary market standards
• Borrower must make at least 6 monthly payments at the start rate and remain current on their mortgage
• Must be or become a Naveo member at the time of closing

Features

• Get your dream home in today’s market and trim down your mortgage rate* later
• One free float down of the interest rate within the first 5 years of your closing
• Our team of local lenders can help you in a timely and efficient manner
• Ability to turn on eBills

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* The rate is based on Freddie Mac’s Primary Market Mortgage Survey (PMMS), a weekly survey of lender data by Freddie Mac to find the rate of fixed mortgage loans submitted to Freddie Mac by banks, credit unions and mortgage companies. Freddie Mac looks at rates for conventional, single-family originations with conforming loan limits set by FHFA and are an average of loan rates offered each week. All loans will be underwritten according to secondary market standards. Maximum loan amount is $800,000. Maximum financing is 95% LTV (mortgage insurance required over 80% LTV). Minimum FICO is 620 (Middle score of lowest borrowers on a tri-merged FICO credit report).