Consider a COSI, COFI, CODI, MTA Option ARM Loan if:                  

• You completely understand the loan and how it works!
• You want the smallest house payment you can get anywhere - up to 50% lower than a standard payment
• You want to maximize your cash flow to buy other things
• You want to minimize your house payment to pay off other debt, like credit cards. This could save you $100's or even $1,000's a month compared to keeping your existing credit card debt.
• You want to minimize your house payment to invest the difference elsewhere. Control up to 2 or 3 times as much real estate versus a conventional fixed rate loan.
• You want to double your money every seven years (Rule of 72). Create additional cash for purchasing investments such as stocks, bonds, etc.
• You need to qualify through a "stated income" or "no doc" product.
• You want to maximize your buying power-get a bigger house today!
• Your income tends to fluctuate or you're confident that your income will rise over the years

Our MTA, COSI, COFI, and CODI Option ARM mortgages offer you the most flexibility when qualifying for a loan, then put you in control of your finances when you start making payments. Manage your money the way you want with up to four payment options each month: Minimum Payment,  Interest Only, Fully Indexed Payment, or Equity Building.   

Is an Option ARM Right for you? Use our Option ARM Calculator

YOUR MONTHLY PAYMENT OPTIONS: 
Rates example based on $200,000

Each month, you will receive an easy-to-read loan statement that lets YOU CHOOSE the payment amount that best suits your current financial needs. Pay the minimum to free up funds for other uses, or make larger payments for faster equity build-up.

OPTION 1: Minimum payment: Payment $690.00
The smallest payment to let you keep the most cash now.

Choose this option to let you keep more cash now and keep monthly payments manageable. Generally, this payment changes annually and is calculated using the initial interest rate "Start Rate" for the first 12-60 months. After that, the minimum payment is usually recalculated annually based on the outstanding principal balance, remaining loan term and prevailing interest rate. A 7.5% adjustment cap (of the previous payment, NOT interest rate) limits how much this payment can increase or decrease each year. Interest rate adjustment feature and payment change cap, and certain payment options, can result in negative amortization. Making this minimum payment maximizes your cash flow, allowing you to do other things you want. You could for example, invest this money. You investment money DOUBLES every seven years if you earn a 10% return! (Rule of 72)

OPTION 2: Interest-only payment: Payment $846.00
Keep payments manageable while paying all your interest.

At those times when the Minimum Payment is not enough to pay the monthly interest due, you can avoid deferred interest with this option. You pay the minimum monthly payment and all additional interest accrued during the month. So you avoid deferred interest, and your payments are still manageable. Note: This option does not result in principal reduction.

OPTION 3: Fully amortized payment: Payment $1,033.00
Reduce your principal and pay off your loan on schedule.

It's calculated each month based on the prior month's interest rate, loan balance and remaining loan term. When you choose this option, you reduce your principal and pay off your loan on schedule, just like any standard loan.

15-year payment: $1589.00
Own your home twice as fast.

If you want to build equity faster, pay off your loan quicker and save on interest, this is the option for you. It's calculated to amortize your loan based on a 15-year term from the first payment due date.

Bi-Monthly Option:
Pay your loan off faster

Add this option to let us automatically deduct 1/2 your mortgage payment every two weeks from your checking account. This is a great way to manage your mortgage, and save thousands more by paying your loan off years faster.

In a speech to a credit union group, former Fed Chairman Alan Greenspan questioned whether fixed-rate mortgages were the most cost-effective means of financing a home purchase. He said "American homeowners clearly like the certainty of fixed mortgage payments" but pay several thousands of dollars a year for the benefits.

Greenspan said homeowners "might have saved tens of thousands of dollars had they held adjustable-rate mortgages rather than fixed-rate mortgages during the past decade"

Greenspan noted that if homeowners are "willing to manage their own interest-rate risks, the traditional fixed-rate mortgage may be an expensive method of financing a home." Feb. 24, 2004

We lend only for properties located in Minnesota, Wisconsin, & Florida.