Payment Option Arm Calculator Fixed Rates

Payment Option ARM Calculator

Loan Amount:	$
Start Rate¹:		%

Current Index:		%
Margin:		%

	30 Yr Monthly Payment	Minimum Payment²	Monthly Savings³
Year 1	$0.00	$0.00	$0.00
Year 2	$0.00	$0.00	$0.00
Year 3	$0.00	$0.00	$0.00
Year 4	$0.00	$0.00	$0.00
Year 5	$0.00	$0.00	$0.00

Other Payment Options
Interest Only Payment:	$2,134.17
40 Year Payment:	$0.00
15 Year Payment:	$0.00

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.

Mortgage Capital, Inc. - 304 Cambridge Road, Suite 300 - Woburn, MA 01801
Office Phone: (781) 935-9355 Fax: (781) 935-9455 Toll Free Phone: (877) 66-CAPITAL

We are licensed in the following states: Licensed by the State of Massachusetts Broker #MB3849, Licensed by the New Hampshire Banking Dept. Broker #11061-MBR, Licensed by the State of Connecticut Broker #15657, and Licensed by the Maine Banking Dept. Broker #CSO7618 Licensed by the State of Vermont # 0689BM D/B/A JRL Mortgage Capital

We will Quote you a mortgage rate FREE with no obligation

NAMB - National Association of Mortgage Brokers