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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. Legacy Mortgage Associates, LLC - P.O. Box 5615 - Canton, GA 30114 Office Phone: 770-704-8056 Fax: 770-704-4863 Cell Phone: (770) 500-0909 Toll Free Phone: 866-704-7730 :: Apply Now :: Pre-Qualify :: Loan Programs :: Purchasing :: Refinance :: May I cancel my PMI mortgage insurance? :: Request Loan Status :: Calculators :: Loan Process :: ARM Loans :: Debt Consolidation :: Home Equity Loan :: Imperfect Credit? :: Interest Only :: Need Cash? :: Zero Down :: Library :: FAQ :: Glossary :: Forms :: About Us :: Contact Us :: Tell-A-Friend :: Sweepstakes :: Testimonials :: Credit Report :: Marketplace :: Home :: We lend in the following states: Georgia Residential Mortgage Licensee # 20186 Florida Residential Mortgage Licensee # 484259 sitemap
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