"Minimum payment" explanation for all Option ARMs: 1.95% Rate
AAMI believes the Option ARM
's " Minimum " and %-Only pmt.
can help us all to:
- Get out of credit card
and installment debt by increasing
monthly cash-flow.
- Increase our savings portfolio.
- Pay off our
mortgage faster than a traditional ARM or Fixed
rate loan (assuming we save the extra cash-flow,
invest it wisely, then lump the savings back
into mtg.)
- Maintain a good credit rating
even if we run into a temporary negative
cash-flow (e.g., loss of job)
.... more.
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