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1-Month PayOption ARM

The advantages of an ARM combined with four flexible monthly payment options.

The 1-Month PayOption ARM lets you choose between 4 payment options, giving you the  flexibility to better handle life's expected and unexpected events. 1-Month PayOption ARMs are ideally suited for first-time buyers, self-employed buyers or anyone who needs month-to-month financial flexibility.

Advantages of a 1-Month PayOption ARM:

  • Initial interest rates as low as 1%
  • Flexible monthly payment options
  • Down payments as low as 5%
  • Maximum lifetime rate lower than most ARMs
  • A maximum annual payment cap of 7.5%

Here's how it works:
After the introductory period, each month your statement will give up to 4 payment options allowing you to choose which payment you want to make.

  1. Minimum payment - The lowest payment based on the initial start rate.
  2. Interest-only - Pay only the interest portion of your payment
  3. 15-year amortization - pay off your loan as if it were a 15-year payment schedule
  4. 30-year amortization - pay off your loan as if it were a 30-year payment schedule

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