Lenders are offering a variety of new loan products to stimulate business, including the 5-4-3-2-1 buydown and the step loan, as reported in American Banker on April 4.

One intriguing product that has been neglected is the fixed-rate loan that offers a teaser rate. At least two lenders offered this product back in the 1980s - General Electric under the brand name Equal, and Citicorp Mortgage with its Homeowner's Key.

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