1-Month PayOption ARM

The advantages of an ARM combined with four flexible monthly payment options. The 1-Month PayOption ARM lets you choose between 4 payment options, giving you the flexibility to better handle life's expected and unexpected events. 1-Month PayOption ARMs are ideally suited for first-time buyers, self-employed buyers or anyone who needs month-to-month financial flexibility.

Advantages of a 1-Month PayOption ARM:
Initial interest rates as low as 1%
Flexible monthly payment options
Down payments as low as 5%
Maximum lifetime rate lower than most ARMs
A maximum annual payment cap of 7.5%

Here's how it works:
After the introductory period, each month your statement will give up to 4 payment options allowing you to choose which payment you want to make.

1. Minimum payment - The lowest payment based on the initial start rate.
2. Interest-only - Pay only the interest portion of your payment
3. 15-year amortization - pay off your loan as if it were a 15-year payment schedule
4. 30-year amortization - pay off your loan as if it were a 30-year payment schedule

1-Month PayOption ARM vs. Other Loans
Sample payment choices on a $400,000 mortgage

Loan Type	Minimum Payment	Interest-Only Payment	15-Year Amortized Payment	30-Year Amortized Payment
1-Month POA 1-month intro of 1.00% FIR: 4.375% (MTA)	$1,286.56 (Fixed for 1-year)	$1,454.86 (adjusts monthly)	$3,039.23 (adjusts monthly)	$1,995.07 (adjusts monthly)
5/1 ARM Rate: 5.50%	Not Available	Not Available	Not Available	$2,271.16
30-Year Fixed Rate: 5.875%	Not Available	Not Available	Not Available	$2,366.15