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Roseville is a city in Placer County, California, United States, located in the metropolitan area of Sacramento. As of January 1, 2007 the population was 106,266. Interstate Highway 80 runs through Roseville and California Route 65 bisects the northern part of the city. According to the United States Census Bureau, the city has a total area of 30.5 square miles (79.0 km²), of which, 30.5 square miles (78.9 km²) of it is land and 0.04 square miles (0.1 km²) of it (0.07%) is water. Several streams flow through Roseville, including Dry Creek, Linda Creek, Secret Ravine and Cirby Creek. The city of Roseville has always been friendly to business. It has encouraged large retail centers, including one of the largest Auto Malls in the country, which contributes significantly to sales tax receipts at the city and county level. Roseville planners have used these funds to provide excellent infrastructure to keep people moving throughout the city. This environment has produced an excellent mix of housing, small and large employers, as well as shopping opportunities.
Shopping
Shopping plays a vital role in the economy of Roseville, which has the ninth highest retail sales of all California cities; Roseville is also the smallest of the fifteen top ranked cities in retail sales. Roseville is considered a regional shopping destination, with the Westfield Galleria at Roseville being the prime example housing such stores and restaurants as Macy's, Nordstrom, Abercrombie & Fitch, Pottery Barn, Ann Taylor, Coach, Ruth's Chris Steakhouse, and the Cheesecake Factory. Westfield is currently embarking on a $260 million, 487,806-square-foot (45,319 m²) expansion that will bring stores such as Apple Store, Burberry, Lacoste, Kate Spade, Juicy Couture, The Cheesecake Factory (Now Open), Lush Cosmetics, Sephora, Oakley, BCBG, and Lululemon. Traffic circulation will also be improved both on and outside the parking lot, including the Highway 65 interchange. See Westfield Galleria at Roseville for more information on the expansion. Peter Bollinger Investment Company is building $80 million "The Fountains" across from the mall with an opening in June with additional buildings opening each month thereafter. The grand opening is scheduled for June 30th, with Whole Foods and other larger stores and restaurants opening in the following months. It will bring Sacramento's first true "lifestyle" shopping center with stores such as Whole Foods, Orvis, Chico's, Coldwater Creek, DSW Shoes, Boudin Bakery, Z Gallerie, White House Black Market, Jos A. Banks, Sur La Table, Peet's Coffee, Anthropologie, Soma, Lucy, West Elm, California Pizza Kitchen, McCormick & Schmicks, Smith & Hawken, Sunglass Hut, Right Start, Draper's & Damon's, New Balance, and Vera Bradley. Phase 1 will open in June with the pad stores/restaurants opening periodically over the next few months. Phase 2 will open Spring 2009 which includes 2 more buildings in the current building area. Phase 3 is currently not scheduled, but includes 3 additional buildings in the current building area. Additional tenants that are listed in a Retail West brochure include: Morton's of Chicago and Elephant Bar. In a future phase across Reserve Drive. Phase 4, across Reserve Drive, will consist of a hotel, additional retail, and office buildings.
What is a Payment Option ARM loan program?This loan program is an adjustable rate mortgage with a low initial monthly payment that will increase each year for the first five years. It also offers other payment options to help you budget your monthly cash flow.
Its low introductory start-rate allows you to make very low initial mortgage payments and low qualifying rates enable you to qualify for more home. Calculating the monthly payment: The payment during the first five years starts by calculating the payment using the initial low introductory rate, usually 1 percent to 2 percent. That will be your payment rate. Each year the payment will increase 7.5 percent for the first five years.
In year six, the payment will then be calculated using the index rate plus the margin rate, and amortized over the remaining term of the loan. On a thirty-year loan, the remaining term is twenty-five years, and on a forty year loan the remaining term is thirty-five years. The note rate is the interest rate the bank will charge you each month. Some programs will use the introductory rate as the note rate for the first three months. After that introductory period, the note rate will then adjust to the index rate plus the margin rate.
Deferred Interest: The minimum payment option can help keep your monthly payments affordable. If the minimum monthly payment is not sufficient to pay the monthly interest due, you will then have deferred interest. That is, the interest that was not paid will be added to the principal loan balance. Your loan balance increases each month. This is where the term negative amortized loan comes from. The balance increases, instead of decreases like in a normal loan. You can always avoid deferred interest by choosing the interest-only payment option. Payment Options: With the option ARM, you generally have at least two fully amortized payment choices, leading to a quicker loan payoff. If you prefer to pay off your loan on schedule, you can make the fully amortized payment based on a thirty- or forty-year loan, or you can choose the fifteen-year payment option for the fastest equity buildup. Option ARM loan programs are right for you if you'd like to own your property only for a short time, and prefer affordability and flexibility in your monthly payment. However, if you select the minimum payment option in the early years, you should be prepared for possible sudden increases in your monthly payments thereafter. Four types of payment options:
Minimum Payment
Interest-Only Payment
Fully Amortized Fifteen-, Thirty- or Forty-year Payment
Index plus Margin
The Margin is the number of percentage points (for example, 2.75) the lender adds to the index rate to calculate the ARM interest rate, or note rate, at each adjustment. The margin is fixed at the time the loan is funded. The interest rate you will be charged is the index rate plus the margin. The Payment Option ARM goes by several different names: Option ARM, PayOption, Pick-a-Payment, Neg Am Variable, Negative Amortized loan. Compare advantages of other Loan Programs Calculate my payments with an Option ARM Loan
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