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Using Pay Option ARM Calculator ~ Five-Year Fixed-Rate OptPay Hybrid LIBOR ARM

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Types of Mortgage Loans: Option ARM: Pay Option ARM Calculator: Examples: Five-Year Fixed-Rate OptPay Hybrid LIBOR ARM

Below you will find an example of how to input Five-Year Fixed-Rate OptPay Hybrid LIBOR ARM loans.

  GreenPoint Mortgage OptPay ARMs:
5yr/6mo LIBOR Hybrid Option ARM
Adjustment Period: 6 Months
Minimum Payment Calculation Method: # 3
(3 points below the the start rate)
Minimum Payment Change Cap: None
Initial Fixed Rate Period: 5 Years
Initial Fixed Payment Period: 5 Years
After that, the Min Payment changes: Never
Index: 6-Month LIBOR
Margin: Refer to Rate Sheet
Interest Rate Rounding: to the Nearest 0.125
Initial Loan Recast: When the 61st Pmt is Due
Subsequent Recasts: Never
Neg-Am Recast: Payment Required: Interest Only
Payment Options Period: 10 Years
Lifetime Cap: Refer to Rate Sheet
Negative Amortization Cap: 110%
First Interest Change Cap: Refer to Rate Sheet
Periodic Interest Change Cap: Refer to Rate Sheet

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OptPay is a trademark of GreenPoint Mortgage Funding, Inc. (GPMF) and/or its subsidiaries.
Mortgage-X is not sponsored by, endorsed by or affiliated with GreenPoint Mortgage.


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