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Using Pay Option ARM Calculator ~ 12 MAT (Fixed Minimum Payment ) ARM

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Types of Mortgage Loans: Option ARM: Pay Option ARM Calculator: Examples: 12 MAT (Fixed Minimum Payment) ARM

Below you will find an example of how to input 12 MAT (Fixed Minimum Payment) option ARM loans.

  Indymac Bank's Pay Option ARMs:
12 MAT ARM 12 MAT Fixed Min Pmt
Adjustment Period: 1 Month 1 Month
Minimum Payment Calculation Method: # 1 # 1
Minimum Payment Change Cap: 7.5% Increase or Decrease 7.5% Increase or Decrease
Initial Fixed Rate Period: 1 Month 1 Month
Initial Fixed Payment Period: 1 Year 5 Years
After that, the Min Payment changes: Every Year Every Year
Index: MTA MTA
Margin: Refer to Rate Sheet Refer to Rate Sheet
Interest Rate Rounding: to the Nearest 0.001 to the Nearest 0.001
Initial Loan Recast: When the 61st Pmt is Due When the 61st Pmt is Due
Subsequent Recasts: Every 5 Years Every 5 Years
Neg-Am Recast: Payment Required: Fully Amortizing Fully Amortizing
Payment Options Period: = Loan Term = Loan Term
Lifetime Cap: Refer to Rate Sheet Refer to Rate Sheet
Negative Amortization Cap: 110% 110%
First Interest Change Cap: None None
Periodic Interest Change Cap: None None

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