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Difference between 5/25 ARM and a Pay Option ARM?

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Is there a difference between the two?

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  1. A 5/25 ARM will not adjust for 5 years. A pay option ARM will adjust when the initial period is done. It may adjust every 6 months from day one. With a pay option, you have the choice to pay your mortgage off in 30 years, 10 , 15 & usually interest only. So the answer to your question is... YES! There is a huge difference!

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