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Option ARM Calculator

MTA option ARM loan program
mortgage calculators

Enter your numbers for loan amount, start rate, current index, and margin.


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% 


1 The "30 yr Fixed Payment" is computed using the same rate as the Fully Indexed Interest Rate 4. This way you can compare the payments for a fixed rate versus the option arm, and decide what is best for you.

2 The low initial "Minimum Payment" is calculated based on the low initial start rate. Rates are for calculation purposes only, please call your loan officer for rate quotes.

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 Difference" is calculated comparing the 30 Yr Monthly Payment to the Minimum Payment.

4 The Fully Indexed Interest Rate is the rate the Lender charges each month. It is equal to the current Index Rate + Margin. The Index + Margin yield may change each month as the Index rate changes, unless you go with a Secure Option ARM.

DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. Please consult your own financial advisor.