Each month you can choose from the following: 1)Minimum Payment with a start rate of 1%. For the next 5 years, the minimum payment option is based on the 1% start rate offering incredibly low monthly payments for borrowers who need more flexibility with payment or who are stretched a little thin with their mortgage payment. The 1% start rate is offered for all types of borrowers: stated income borrowers, investment properties, second homes. Get a $100,000 loan for $425 per month! 2)The second option is an interest only option where the borrower just pays interest based on the 12 month MTA. 3)The third option is to pay principle and interest and fully amortize your loan. This is great for borrowers if some months they decide they want to pay down principle to gain more equity.
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