Posts tagged Payment Option Home Loan
What is a Payment Option ARM?

A payment option ARM is a kind of adjustable rate mortgage that provides a borrower with a variety of methods to pay off their loan each month. At first, borrowers will be required to make a specific payment based on a temporary, starting interest rate. After a certain period, they can switch to any other of the payment options, including a minimum payment, which often doesn’t cover the interest of the loan.

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