Apply Online          

     

Welcome to Carteret Mortgage!
 Your source for consumer information  

 

 



Option Arm Manage your Mortgage!



Construction/Perm

Interest Only Mortgage


No Doc


Real Estate Investor


Refinance





















 

Fixed Payment Option Arm

Fixed Payment option arm products are flexible. Fixed payment option arm products are my choice for my home and investment property. I am a mortgage broker specialized in the Fixed Payment Option Arm with 37 lenders offering the Fixed Payment Option Arm to ensure you get the best mortgage for your specific situation 

Fixed payment option arm products help manage income and expenses. Fixed payment option arm products give you control over your mortgage payment. Income varies and unplanned expenses come up. Our mortgage payment  is our largest monthly expense, and the least flexible.  Choose one of four payment options monthly based on your needs.

Request a copy of "Understanding the Fixed Payment Option Arm" by email. It is an Adobe document explaining how the 5 year fixed payment option arm works.

        Fixed Payment Option Arm Minimum Payment    A minimum payment is set for 60 months at a greatly reduced rate. The current minimum payment rate is 1.90%. This option maximizes cash flow and may defer payment of interest allowing greater flexibility in managing tax deductions.  Read about the important tax considerations of fixed payment option arm. For concerns over deferred interest, read about the small amount of appreciation required to offset it.

        Fixed Payment Option Arm Interest Only Payment    Defer paying principal and improve your cash flow.  This option is not available if the interest only payment is less than the minimum payment.

        Fully Amortizing Options    Make a principal and interest payment based on either a 30 or 15 year payment schedule. I have included a 5 Year fixed payment option arm statement.

You may choose your index from either the 1 month LIBOR or the MTA.

Here is a 10 year average comparison between a 30 year fixed and fully indexed LIBOR, MTA, COFI, and the 1 year Treasury Index in chart form.

    Additional Options    You also may want to increase the term of your loan from 30 to 40 years lowering your payment even further. This is the approach I use on my own loans. If I want to use the minimum payment, I want that number as low as possible. LTVs are now available up to 100%!

The Minimum Payment Advantage    The example below is based on a $400,000 mortgage. It compares a traditional 30 year fixed rate payment based on the above 10 year average to the minimum payment available based on the 10 year average. Assumes that the Minimum Payment increases by the maximum 7.5% per year.

                    30 Fixed                    Cash Flow  Minimum                 Monthly Savings                    Annual Savings

Year 1        $2,855                                $1,287                                        $1,586                                    $18,816
Year 2        $2,855                                $1,384                                        $1,471                                    $17,652
Year 3        $2,855                                $1,488                                        $1,367                                    $16,404

                                            Savings over 3 years        $52,872
                                            Savings invested at 8%    $56,885

I have recently added a website dedicated solely to Fixed Payment Option Arm.

Read more about Fixed payment option arm Closing Costs

Read very important information about Fixed Payment Option Arm Prepayment Penalties

Here is a useful Fixed Payment Option Arm payment calculator

As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your consumer and mortgage debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.

    Fixed Payment Option ArmPrequalify for your Fixed Payment Option Arm

ARMs   Home Equity    Interest Only Mortgage  Investor Loans  Jumbo  Mortgage Links   Reverse Mortgage  No Downpayment Loans   Refinance Center   Site Map  Vacation Home Loans   Commercial Loans Mortgage Home

Certified Mortgage Planning Specialist


NEVER an Origination Fee!

Extensive consumer information on construction,remodeling, first time homebuyer,and no documentation mortgages.                                                                                                                       VA Mortgage