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Payment Option ARM Calculator


Loan Amount: $
Start Rate1: %
 
Current Index: %
Margin: %



  30 Yr Monthly Payment Minimum Payment2 Monthly Savings3
Year 1 $0.00 $0.00 $0.00
Year 2 $0.00 $0.00 $0.00
Year 3 $0.00 $0.00 $0.00
Year 4 $0.00 $0.00 $0.00
Year 5 $0.00 $0.00 $0.00

Other Payment Options
Interest Only Payment: $2,134.17
40 Year Payment: $0.00
15 Year Payment: $0.00

Effective Interest Rate4 (Index + Margin): 5.122% 

Assumptions:

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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Joseph Piccinini (JP)

JP & ASSOCIATES

Proud Member of The Russell and Jeffcoat REALTORS Family

Licensed in the State of South Carolina

#1 REAL ESTATE Company in the Columbia and Lexington SC Region

Largest Indipendent Real Estate Company in South Carolina

Mobile (803) 873 0533

Business (803) 798 1250

Fax (803) 731 7627

jp@jphomesforsale.com

Lexington and Columbia SC Real Estate

An Equal Opportunity Company. Equal Housing Opportunity.
All rights reserved.

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