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Payment Option ARM Calculator
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. HCCBANK.COM - 225 BROADWAY SUITE 910 - NEW YORK, NY 10038 Office Phone: 212-231-0062 Fax: 212-577-5947 :: Frequently Asked Mortgage Questions? :: Mortgage Articles :: Mortgage Loan Process :: Credit Report :: Mortgage Loan Programs :: Mortgage Calculators :: Live Rate Quote :: Homebuyer Education :: Purchasing in Today's Market :: Hawthorne Mortgage En Espaņol :: Employment Opportunities! Contact Us :: Privacy Policy :: Hawthorne Capital Forms :: About Hawthorne Capital Corp :: Hawthorne In The News :: Hawthorne Capital Corp Registration :: FSBO - For Sale by Owner :: Mortgage | Refinance | FHA | BANK
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