From: lakepeir@yahoo.com
Newsgroups: alt.org.natl-assn-mortgage-brokers
Subject: Newbie Q about fixed interest rates and 20 yr amortization loan
Date: 22 Mar 2007 15:30:12 -0700
   posting-account=XqIPdw0AAABtewp1w5xoUzf43GPmfE1g

Hello,

I have an offer accepted on some investment property that I would like
to buy.  I sent the offer to purchase to my bank and they came back
and said I was approved for a 3 year fixed 20 year amortization loan
at 9.25% interest rate.  I orginally asked for a 10 year loan with the
option to pay off the loan early.  I think the interest rate is very
high and the 20 year amortization can possibly change the interest
rate.  Can someone offer me advice?  Thanks.