Option ARM Loan
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Option ARM mortgages, which allow borrows to defer or prepay interest at will by offering four monthly payment options, are known and marketed under a variety of names:The following is an attempt to assemble a rather exhaustive list of all the names by which Option ARM mortgages and other mortgages with payment options are known:
Cash Flow ARM
Cash Flow Option Loan
Negative Amortization Mortgage
Fixed Option ARM
COFI ARM
30 Year Fixed Option ARM
1 Month MTA Option ARM
Payment Option ARM
Secure Advantage Loan
Smart 30 Mortgage
Investor ARM or Investment ARM
COSI ARM
Deferred Interest Mortgage
Pay Option ARM
The Secure Option Arm
GPM
Option Plus Loan
PayOption
Hybrid ARM
Hybrid Option Arm
Pay-Option ARM
If you are considering one of these loans, make sure you are living in an area with moderate gains and not using the minimum payment option every month because if you are making only a minimum payment you could possibly lose some of your equity due to negative amortization.
1 Month Option ARM
Flex 5
Neg Am Loan / NegAm Mortgage
Adjustable Rate Option ARM
Negative Mortgage
Quicken loans smart choice loan
Call to speak with for all of your loan options. Option ARM programs are great for the right person, but a terrible option for the wrong person.
NegAm
Quicken buyers advantage loan
Option ARM
Fixed Rate Pick a Pay
Pick A Pay
Pick A Payment
Flex Pay Option
Minimum Payment Option Mortgage
Pick Your Payment
Fixed Rate Pay Option
Power Option
Payment Advantage Mortgage
Even thought the option ARM mortgage has many different names it is still essentially the same product from lender to lender.
An Option ARM Loan may increase your principal owed due to negative amortization when the monthly payment is less than the interest accrued for the month. The loan will usually be recast when the pricipal rises to 110% of the beginning principal balance.
5 Yr Hybrid Option Arm
5 Yr Fixed Option Arm
30 Year Flex Pay Plus
1% Mortgage
One Percent Mortgage Solution
COFI, COSI, CODI ARM