Wise Financial Group Inc. - FAQ

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Why use Wise Financial Group? 

Wise is a specialty lender understanding the needs of the business owner or investor requiring commercial financing.  As a specialty lender Wise has access to financial sources not generally available to conventional lending institutions.



What is an Adjustable Rate Loan?

An Adjustable Rate Mortgage (ARM) is a loan under which the interest rate is periodically adjusted to more closely coincide with current rates. The amounts and times of adjustment are agreed to in the Adjustable Rate Note signed by the homeowner.



How is the new interest rate determined?

Most Adjustable Rate Loans require that an index be determined on the loan documents, a margin is then added to the index and the result is rounded to determine the new interest rate.


Why is the interest rate going up but the payment going down?

If you have remitted extra money in addition to your regular payment, you will have lowered your principal balance ahead of the normal amortization. At your interest rate change cycle, we will determine your new payment amount by using your current principal balance, new interest rate and remaining term. If you have remitted enough extra money, it is possible to lower your payment even though your interest rate increases.