GetMeLowerRates.com Asks "The Option Arm Loan, is it Right for You?"

River Edge, NJ, June 07, 2006 --(PR.com)-- Getmelowerrates.com is dedicated to your success in the loan process. They offer many different programs, and connect you with the right companies to make all your dreams come true. The Option ARM loan is one of the many services they provide. The Option ARM loan is all about choices. Above all it helps you to decide what works best for you, makes it easy for you to manage your monthly cash flow and puts you in control of your repayment finances. With 4 options to choose from, this loan program is rapidly becoming more and more popular for new and seasoned home buyers.

So, with 4 options to choose from…. Which works best for me?
The person that can most help you with this answer is a loan officer with whom they can put you in touch. The best thing about the Option Arm Loan is that every month you will receive a loan statement that offers you the choice of which of these 4 options works best for your payment that month. This allows you the freedom to manage your repayment terms in accordance to your current financial situation.

Here are the options available, have a look to see what is more of your ideal situation, and then contact them to learn more and to discuss how getmelowerrates.com can help you get into the home of your dreams.

Option 1: Minimum Payment
When you choose the minimum payment option, your loan will be set for you for a 12 month plan on an initial interest rate. This is the lowest payment option and can help you save the most cash each month for the first year. After the first 12 months, your payment is recalculated and is based on the principal balance owed, loan term and the interest rate. You can also customize this option plan with a bi-weekly payment plan to help you eliminate deferred interest and accelerate your loan payoff.

Option 2: Interest Only Payment
With the interest only payment, you will avoid deferred interest when the minimum payment does not cover the monthly interest due. This option will no doubt still keep your payment low, and make sure all your interest is paid for on time, but it also will help provide a low and manageable payment at the full—indexed rate to give you no change in the principal balance per month.

Option 3: 30 Year Full Principal and Interest Payment
With the 30 year fully amortizing payments, you will keep your loan completely on schedule by reducing your principal and interest through a simple 30 year repayment plan. Generally these rates per month are equal in price and will leave you with a zero balance at the end of your term.

Option 4: 15 Year Accelerated Principal and Interest Payment
Just like the 30 year full payment option, this option provides the same method, but in a 15 year term. This paves the way for accelerated repayment of full principal balance and interest owed to decrease the amount of time payment is owed. The payment per month is still on a full-indexed term, just repaid twice as fast leaving you maximum cash flow for your household at the end of the 15 year term.

Whatever your needs when choosing the right loan option when you are ready to purchase a home, www.getmelowerrates.com is there for you.

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