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Quotes of the day:
Truth may be stretched, but cannot be broken, and always gets above falsehood, as oil does above water.
An option adjustable-rate mortgage (option ARM) is a type of ARM mortgage where the borrower has several options as to which type of payment is made to the lender. In addition to having the choice of making payments of interest and principal that amounts to those made in conventional mortgages, option ARMs also have alternative payment options where the mortgagor can make significantly smaller payments by making interest-only payments or minimum payments.
Adjustable rate mortgages ARMs | Housing | Finance & Capital Markets | Khan Academy
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