Get a $150,000 mortgage for $734 a month
Take 30 seconds to learn about the FLEX ARM and other loan options. It's easy and it's free!
Compare FLEX ARM to a Traditional, 30-Year Mortgage
|
Loan
Amount
|
30-Year Fixed
Payment at
7.5%
|
Flex ARM
Interest-only
Payment
|
Annual
Difference
|
Difference
Over 3 Years
|
|
$150,000
|
$1,049
|
$734
|
$3,773
|
$11,320
|
|
$200,000
|
$1,398
|
$958
|
$5,281
|
$15,844
|
|
$300,000
|
$2,098
|
$1,438
|
$7,922
|
$23,765
|
|
$500,000
|
$3,496
|
$2,396
|
$13,203
|
$39,609
|
Month-by-month flexibility
Month after month, you can choose to pay only the interest or the combined interest and principal. Your monthly mortgage payment can be up to 30% lower than a traditional mortgage!
You can always choose to pay off your mortgage sooner with no pre-payment penalties!
Freedom to spend your money how you want
With a lower mortgage payment, you have more disposable income.
Use your money to remodel your home, pay off debt, pay for college, or increase your retirement savings.
How the FLEX ARM loan works
- You can pay interest-only mortgage payments for 10 years.
- You can choose to pay more toward your principal at any time.
- After the 10 year interest-only period, you pay principal plus interest.
- The interest rate can only adjust every 6 months after the fixed-rate period.
Who it's for
- People who don't want to put the majority of their money in their house
- Homeowners wanting to pay off debt
- People who want to pay off their mortgage sooner
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