Have an adjustable rate mortgage but want stability – This loan has a payment cap. The interest rate on this loan is based on 12 month-MTA index, most stable index of 4 main indexes (COFI, LIBOR, MTA & CMT). This index is always below prime. The interest rate is based on world economic markets which have been steadily coming down over last 3 years. This loan has a 5-year fixed payment option as well.

Invest your payment savings in something else – This could open up opportunities for you if you could invest in real estate, stock market or another investment when you use extra $500-1000+ a month you free up from your property payment. Pay off debt with your payment savings – You can use payment savings to pay off other debt.

Have security and options in your mortgage loan – The main benefit to this type of loan is security of a mortgage payment that you control. You decide at any time what kind of a mortgage you want. If all goes well in your future, you have freedom to pay your 30 year loan into a 15 year loan without even consulting another mortgage broker. Get more home for your money – You can qualify for more home with these low payment options.

Who Can Qualify? Qualifying for this loan is basically same as any other loan, it is based on credit, equity & assets, if you are strong in 1 of these or 2 of these, you could probably qualify and with lowest rate possible.

What if I want to take out a stated income loan? “Stated Income” or “No income/assets” loans are possible with this Option One Loan.

These are just general guidelines and information about this type of loan. You will want to discuss all of these details with your broker or lender before you actually complete loan. These factors may vary with each individual lender.

Many lenders do not offer their customers this type of loan. If you are seeking an option one or option ARM loan, you will need to talk to your broker about it or find a broker that can do this type of loan.

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