HELP! Amortization Type:
Fixed Rate: A Fixed-Rate real estate loan is usually repaid over a 15 to 30 year term at an unchanging monthly payment and interest rate.  Select "Fixed Rate" if this is the amortization type you're applying for.
 
GPM: Graduated Payment Mortgage is a loan in which the monthly payments increase by a certain percentage each year for a predetermined number of years and are then fixed for the remaining loan term.
 
Adjustable: An Adjustable Rate Mortgage (ARM) is a loan with a payment and interest rate that fluctuates to reflect the index the ARM is based on.  Select "Adjustable" if you know you are applying for an ARM.
 
If ARM (type):  If you selected "ARM" and know the type of arm you're applying for, list the type in the field provided.  Your loan officer will be able to tell you the ARM type.  If you don't know the type, leave the field blank.
 
Other: Select "Other" if you are unsure what amortization type to enter or if none of the explanations apply to your loan.
 
If Other (explain):  If you selected "Other" and know the amortization type, enter the other type in the field provided.  If you know that your loan is different than any of the selections above, but don't know the type, leave the field blank.
 

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