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| 2% Option ARM Mortgage 2% is the minimum payment rate on this loan type. This type of loan allows a borrower to make minimum payments on their loan, typically for the first 5 years of the loan. The advantage of this loan is that it offers one of the the lowest monthly payments possible. The APR on this loan is the index plus margin, adjusted for closing costs to reflect the true annual percentage rate. This will vary based on the specific program you choose. A 2% minimum payment option loan is often offered for borrowers who are using less documentation or a higher loan to value ratio. |