Using Pay Option ARM Calculator ~ Cashflow ARMs
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Types of Mortgage Loans: Option ARM: Pay Option ARM Calculator: Examples: Cashflow ARM
Below you will find an example of how to input Cashflow option ARM loans.
| Chevy Chase Bank's Cashflow ARMs: | ||
| Cashflow Option Loan | 5-Year Fixed Pay | |
| 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, 1-Month LIBOR | 1-Month LIBOR |
| Margin: | Refer to Rate Sheet | Refer to Rate Sheet |
| Interest Rate Rounding: | to the Nearest 0.125 | to the Nearest 0.125 |
| Initial Loan Recast: | When the 121st Pmt is Due | When the 121st 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: | 115% | 115% |
| First Interest Change Cap: | None | None |
| Periodic Interest Change Cap: | None | None |
Mortgage-X is not sponsored by, endorsed by or affiliated with Chevy Chase Bank.
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