15 Year Fully Amortized Payment

This payment option is a principal and interest payment amortized over 15 years. Like the 30 year payment, the payment amount is calculated using an economic index (discuss the index tied to your loan with your Alerio representative), and a fixed margin. This payment has the ability to change every month, because the index fluctuates with the market. This monthly payment will be the highest of the options because it is amortized over 15 years rather than 30 years.