An Adjustable Rate Mortgage (ARM) that has multiple different payment plans from which the borrower may choose. The options usually include 15, 30, and 40 year payment plans, or a minimum payment plan that is based on the initial interest rate. Each of the options is very different, and factors such as time and interest rate must be carefully considered when choosing the plan.
Related information about payment option ARM:
- Payment Option ARM Definition | Investopedia
A monthly adjusting adjustable-rate mortgage (ARM) which allows the borrower to choose between several monthly payment options: a 30 or 40-year fully ...
- FRB: Interest-Only Mortgage Payments and Option Payment ARMs
Aug 27, 2007 ... A payment-option ARM is an adjustable-rate mortgage that allows you ... The interest rate on a payment-option ARM is typically very low for the ...
- Interest-Only Mortgage Payments and Payment-Option ARMs
Interest-Only Mortgage Payments and Payment-Option ARMs | 3. What is a payment-option ARM? A payment-option ARM is an adjustable-rate mortgage that ...
- Adjustable-rate mortgage - Wikipedia, the free encyclopedia
Cash flow ARM mortgages are synonymous with option ARM or payment option ARM mortgages, however it should be noted that not all loans with cash flow ...
- Payment Option ARM Mortgages - Select Portfolio Servicing, Inc.
A Payment Option ARM is an adjustable rate mortgage on which the interest rate generally adjusts or changes monthly and the payment amount adjusts or ...
- Payment Option ARM Calculator
30 Yr Monthly Payment, Minimum Payment2, Monthly Savings3. Year 1, $544.30, $321.64, $222.66. Year 2, $544.30, $345.76, $198.54. Year 3, $544.30, $ ...
- What is payment option ARM? definition and meaning
Definition of payment option ARM: An Adjustable Rate Mortgage (ARM) that has multiple different payment plans from which the borrower may choose.
- Adjustable-Rate Mortgages - Consumer Financial Protection Bureau
(e.g., fixed rate, 3/1 ARM, payment-option ARM, interest-only ARM). Basic Features for Comparison. Fixed-rate mortgage interest rate and annual percentage ...