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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.



Home of Loan John - 410 S. State St. - Davison, MI 48423
Office Phone: (810) 654-2525 Fax: (810) 654-9825 Toll Free #: (866) LOAN JOHN


Home of Loan John and a member of the Symphony Homes family of companies offers mortgage services in the following areas: GENESEE COUNTY, LAPEER COUNTY, OAKLAND COUNTY, MICHIGAN, ATLAS, BURTON, CLIO, DAVISON, FENTON, FLINT, FLUSHING, GOODRICH, GRAND BLANC, MONTROSE, MUNDY, RICHFIELD, AND SWARTZ CREEK.  Mortgage loans are also provided in LAPEER, CLARKSTON, HOLLY, LAKE ORION, NOVI, OXFORD, PONTIAC, ROCHESTER, ROCHESTER HILLS, TROY, AND WATERFORD.  Copyright 2001 - 2008 Loan John and Real Estate One Symphony Homes.  Our American Government Mortgage and Loan programs provides clients with FHA, VA, and Reverse Mortgage services. Be sure to ask about our revolutionary TRADE IN PROGRAM!  That's right, now you can TRADE IN YOUR OLD HOUSE FOR A BRAND NEW SYMPHONY HOME! Call (810) 658-3600 for more information. NEW HOMES ON OUR LOT OR YOURS! Symphony Homes is a new homes Michigan builder in Genesee and Oakland County currently building in several new home communities including Burton, Davison, Goodrich, Grand Blanc, and Lake Orion!  New home styles feature single family detached homes and condominiums. Complete loan and financing services are now available through our mortgage partner,  HOME OF LOAN JOHN).  Call (810) 654-2525 to speak with one of our mortgage experts!  Symphony Homes is proud to be a REAL ESTATE ONE affiliate! SEARCH THE MLS for all homes in the state of Michigan by accessing the MULTIPLE LISTING SERVICE directly from this site! Also, be sure to visit THE VALUE PLAY for powerful real estate software, audio CDs featuring author Steve Berges, and business, real estate, and legal forms! Tired of paying high gas prices? Then be sure to visit THE GAS SAVER to learn how you can begin saving $$$ now!



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