Advantage 90® Flex-5 Option ARM
An adjustable-rate mortgage loan with four payment options: minimum payment, interest only, full principal and interest (30-year term), and full principal and interest (15-year term). These loans have an initial fixed interest rate for 5 years. After this period, the rate charged on the loan adjusts monthly, and payment option amounts adjust annually. Deferred interest, or negative amortization, is possible with these loans. The Advantage 90® Program eliminates private mortgage insurance.
