There are so many way that you can lower your monthly payment Option Adjustable Rate of Mortgage is one of them. Here are some benefit to choose this program

• Option Arm will give you the cash out that you need and still keep your payment as low as possible.

• You can custom your payment as you like

• Allow you to have more freedom in your loan.

• Allow investor to maximize their home loans

Here are four options that you can choose each month.

• Minimum payment: gives you more money to work with. First year's minimum payment is based on the initial start rate. The minimum payment for the year will be established annually. At each subsequent annual adjustment, the payment is based on chosen index plus margin. Payment cap is 7.5% annually. (Ex: if your payment is $1,000, the highest you will pay in second year is $1,075).If you made this payment partial of the interest rate will deferred.

• Interest only : Allow you to pay all the interest that you own each month.

• Principal and Interest: Fully amortizing 30 year principle and interest payment. Payment based on chosen index plus margin, which is calculated monthly.

• 15 year principle and interest: Allow you to pay off your loan faster.

Maico Mortgage Loan are here to explain detail for you . Please call us at 877-336-2426

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