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  Payment Option ARM Calculator
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.  Choice Home Loans - 250 Center Drive Suite 102 - Vernon Hills, IL 60061 Office Phone: (847) 550-8000 Fax: (847) 550-8014 Corporate Office: (847)968-2500 :: YOU CAN BE DEBT FREE - SEE HOW!! :: Refinance :: CREDIT REPAIR :: Purchase :: Foreclosure Recovery :: Apply Now :: Reverse Mortgages :: Staff Directory :: Free Mortgage Payment! :: Contact Us :: About Us :: Our Purpose :: Tell-A-Friend :: Free Reports! :: Calculators :: Loan Programs :: Loan Process :: Loan Application Instructions :: Forms :: Debt Consolidation :: Need Cash? :: Zero Down :: ARM Loans :: Interest Only :: Home Equity Loan :: For Sale by Owner :: FAQ :: Glossary :: Library :: Resources :: Home :: An Illinois Residential licensee Your best choice for mortgage loans in... Illinois and ANY other state not prohibited by LAW! Competitive rates Superior service 
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