Flex Arm Mortgage

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The flex-arm mortgage is structured in a way that gives the borrower the flexibility of three payment options Each month the lender sends the borrower a payment coupon that calculates three payment options: negative amortization amount, interest-only amount, fully amortized amount This program is usually attractive to borrowers who are self-employed or those who have a commission based income. This is because some months are slower than others, and the borrower will have several payment options.