Payment Option ARM Calculator

Loan Amount: $ Start Rate1: %

Current Index: % Margin: %

¹ The low initial Minimum Monthly Payment is calculated based on the low initial start rate. Rates are for calculation purposes only, please call your loan officer for rate quotes.

² Paying the Minimum Monthly Payment will result in deferred interest, which will be added to the principal balance and increase your loan amount. This is called negative amortization. For the first 5 years the minimum payment will increase 7.5% over the previous year.

³ The Monthly Savings is calculated using the current Index + Margin. Rate increases or decreases are not computed. Monthly Savings compares the 30 Year Payment to the Minimum Payment.

⁴ The Effective Interest Rate is the rate the Lender charges each month. It is equal to the Index Rate + Margin. The Index + Margin yield may change each month as the Index rate changes.

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Michael 'Mani' Bongiovanni - 8330 East Hartford Drive Suite 101 - Scottsdale, AZ 85255
Cell Phone: 480-390-2123 Fax: 480-609-4111
Email: mani555@aol.com

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We lend in the following states: AZ & WA.  Mortgage Banker & Broker  Bk-0904318 



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