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Posts Tagged ‘flexible payment mortgages’

With most mortgages, your payment is the same every month. But what if your paycheck isn’t so regular? Would you like to be able to vary your mortgage payment depending on your cash flow? An option ARM — also called a flex-ARM or pick-a-payment loan — allows you to do just that.

How does it work?

An option ARM is an adjustable-rate mortgage with a twist. You don’t pay a set amount each month. Instead, the le Read the rest of this entry »