Are you looking to encourage your assets to grow and to invest
your money in a variety of areas—all while being able to
make your mortgage payments? Are you looking to reduce your
mortgage payments by paying down your interest and principal
on every mortgage loan payment? If so, then an Option
ARM Loan may be right for you. Option ARMs are a
family of mortgages that include:
Pay Option Loans
Cash Flow ARM Loans
Fixed Rate Option ARM Loans
Smart Choice Loans
Pick a Pay Loans
Secure Advantage Loans
1 Month MTA Loans
and many more!
These loans are also known as "Payment Cap ARM",
"Deferred Interest Mortgage" and "Negative
Amortization” Loans. Once a specialized financial tool of
the wealthy, Option ARM Mortgages now come in
a remarkable array of configurations and a range of sizes
available to everyone. Option ARMs are now becoming available
as 30 Year Fixed Rate Mortgages with Cash Flow Options.
Whatever the street name, Option ARM loans all share one
thing in common: multiple payment options that allow you to
choose how much you will pay towards your mortgage loan each
month.
There are typically four payment options every month in
your Option ARM loan:
- Minimum Payment Due
- With this option the
monthly payment is re-calculated annually and
configured from the outstanding principal balance,
remaining term and then current interest rates. This
payment is usually capped at a 7.5% annual rate
increase or decrease. These low monthly payments can
open up enormous cash flows every month to be invested
in other areas, but you need to keep track of what
interest you still owe in order not to fall behind on
your entire loan repayment.
- Interest Only Payment
- In order to make sure
your interest is being paid down without worrying
about making a large monthly payment against your
principal, First Atlantic offers you this option to
just pay the interest, which is generally a low-cost
payment.
- 30 Year Fully Indexed Principal and Interest Payment
- This mortgage loan
payment is fully amortized and based on a 30-year loan
that is calculated each month and drawn from the prior
month's interest rate, loan balance, and remaining
term. The advantage with this payment option is that
your mortgage payment will cover all of the interest
due and reduce your principal.
- 15-Year Full Principal and Interest Payment
- This is the largest
monthly payment option which allows a consumer to
apply the most towards principal and term reduction.
This payment is built to amortize your loan, mirroring
a 15-year term from the first payment due date.
Apply
Now to try the Option ARM loan today!
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