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Home > Types of Mortgages > Option ARMS
 
Option ARMs can adapt to fit your lifestyle.  They offer flexible payment options and qualification standards.

Traditional home loan payments are the same each month for the term of the loan.  With an Option ARM, you can choose from one of four payment choices each month -- which gives you the flexibility to change your mortgage payments as your needs change.

Payment Options

  1. Minimum Payment
    This is the minimum payment that needs to be made each month.  This payment is usually based on the start rate and may create deferred interest.  The minimum payment will change once a year.
     
  2. Interest Only Payment
    This payment covers only the interest you are charged each month.  This payment does not reduce your principal and does not create deferred interest.
     
  3. 30-Year Principal and Interest Payment
    This payment includes the interest and principal necessary to pay the loan off in 30 years.
     
  4. 15-Year Principal and Interest Payment
    This payment includes the interest and principal necessary to pay the loan off in 15 years.

Consider a Option ARM:

  • To minimize your house payments to pay off other debt.
  • To control how much tax-deductible interest you pay monthly.
  • To maximize your buying power.
  • If your income tends to fluctuate
  • If you are confident that your income will rise over the years

Special Features Available

  • Stated income, your income is stated but not verified
  • Interest only - Pay interest only monthly payments
  • 100% financing

If you feel that a Option ARM is something that you may be interested in, let me email you some additional information.  This will further explain your payment options and how to make an option arm work for you.
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Sierra Pacific Mortgage Company, Inc dba CL Funding Group  | 1515 Oakland Blvd, Suite 130 | Walnut Creek, CA 94596
Tel: 925-938-5600 | CA-DOCCRMLA License #8171080 | NMLS #259720