[...] The minimum 1% to 2% payment is an interest only payment and is based on a 30 or 40 year amortization. Option Arm Mortgage Loans: How do they work? The 30 year, 15 year and interest only payments are based on the fully indexed rate. Depending on the lender and funding program you select, the deferred interest or minimum payment could either stay fixed between 1% and 2% for 5 years or the PAYMENT could start at around 1% and go up or down a maximum of 7.5% annually for 5 years.
Greenwich real estate

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