Option ARM mortgages, which allow borrows to defer or prepay interest at will by offering four monthly payment options, are known and marketed under a variety of names:
The following is an attempt to assemble a rather exhaustive list of all the names by which Option ARM mortgages and other mortgages with payment options are known:1 Month Option ARM Flex 5 Neg Am Loan / NegAm Mortgage Quicken loans smart choice loan Pick A Payment Flex Pay Option Minimum Payment Option Mortgage Pick Your Payment Fixed Rate Pay Option Power Option Payment Advantage Mortgage Cash Flow ARM Cash Flow Option Loan Negative Amortization Mortgage Fixed Option ARM COFI ARM 30 Year Fixed Option ARM Negative Mortgage 1 Month MTA Option ARM Payment Option ARM Secure Advantage Loan Smart 30 Mortgage Investor ARM or Investment ARM COSI ARM Deferred Interest Mortgage Pay Option ARM Option ARM Fixed Rate Pick a Pay 1% Mortgage One Percent Mortgage Solution Even thought the option ARM mortgage has many different names it is still essentially the same product from lender to lender. Pick A Pay |
