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Option ARM Loan 

Option ARM loans have become extremely popular and common over the past few years. However, these Option ARM loans are not good for everybody. Option ARM loans are somewhat high risk and they will usually have a payment option that will result in negative amortization. Negative amortization is when you mortgage loan balance increases instead of decreases. This could present some problems, especially in the tough real estate market we are experiencing in the middle of 2007. Option ARM's should be used with care and only after you completely understand how an option arm loan works.

Option ARM mortgages, which allow borrows to defer or prepay interest at will by offering four monthly payment options, are known and marketed under a variety of names:

The following is an attempt to assemble a rather exhaustive list of all the names by which Option ARM mortgages and other mortgages with payment options are known:

1 Month Option ARM

Flex 5

Neg Am Loan / NegAm Mortgage

GPM

NegAm

Pay-Option ARM

If you are considering one of these loans, make sure you are living in an area with moderate gains and not using the minimum payment option every month because if you are making only a minimum payment you could possibly lose some of your equity due to negative amortization.

Quicken loans smart choice loan

Pick A Payment

Flex Pay Option

Minimum Payment Option Mortgage

Pick Your Payment

Fixed Rate Pay Option

Power Option

Payment Advantage Mortgage

Cash Flow ARM

Cash Flow Option Loan

Negative Amortization Mortgage

Fixed Option ARM

COFI ARM

30 Year Fixed Option ARM

Quicken buyers advantage loan

Hybrid Option Arm

The Secure Option Arm

PayOption

Negative Mortgage

1 Month MTA Option ARM

Payment Option ARM

Secure Advantage Loan

Smart 30 Mortgage

Investor ARM or Investment ARM

COSI ARM

Deferred Interest Mortgage

Pay Option ARM

Option ARM

Fixed Rate Pick a Pay

1% Mortgage

One Percent Mortgage Solution

COFI, COSI, CODI ARM

Even thought the option ARM mortgage has many different names it is still essentially the same product from lender to lender.

Pick A Pay


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