GMI Home Loans | FHA | New Jersey Mortgages | Refinance | Fixed Rate Mortgages

Payment Option ARM Calculator

Loan Amount:	$
Start Rate¹:		%

Current Index:		%
Margin:		%

	30 Yr Monthly Payment	Minimum Payment²	Monthly Savings³
Year 1	$0.00	$0.00	$0.00
Year 2	$0.00	$0.00	$0.00
Year 3	$0.00	$0.00	$0.00
Year 4	$0.00	$0.00	$0.00
Year 5	$0.00	$0.00	$0.00

Other Payment Options
Interest Only Payment:	$2,134.17
40 Year Payment:	$0.00
15 Year Payment:	$0.00

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.

GMI Home Loans LLC - 195 Route 9 South Suite #109 - Manalapan, NJ 07726
Toll Free Phone: (888)788-2688 Office Phone: (732) 837-1400 Fax: (732) 837-1410

GMI Home Loans, LLC - Division of NVC Premier Fund,LLC

Licensed by the New Jersey Dept. of Banking and Insurance.

Registered Mortgage Broker New York State Banking Department - "Loans are aranged through third parties"

Licensed Mortgage Lender by the Florida Office of Financial Regulation.

Licensed Mortgage Lender by the Connecticut Department of Banking.

Licensed with the Pennsylvania Department of Banking.

State of Oklahoma Dept. of Consumer Credit.

Missouri Division of Finance.

State of Hawaii Dept. of Commerce and Consumer Affairs

Department of Veteran Affairs Approved Lender.

HUD Approved Title II Direct Endorsement Lender (FHA).