Respuesta :
The number of years between adjustments in the interest rate
A mortgage that has an adjustable interest rate (ARM) exists as a loan for a residence. The initial interest rate on an ARM stands fixed for a group length of time.
What is an adjustable-rate mortgage?
A mortgage that has an adjustable interest rate (ARM) exists as a loan for a residence. The initial interest rate on an ARM stands fixed for a group length of time.
The term “5” represents the length of time the rate will be fixed, and the “1” indicates how frequently it will adjust after that (once per year). As a result, it exists already clear how significant the insurance is.
A variable-rate mortgage, adjustable-rate mortgage, or tracker mortgage exists a mortgage loan with the interest rate on the notice occasionally adjusted established on an index which reflects the cost to the lender of borrowing on the credit markets. The loan may be offered at the lender's standard variable rate/base rate.
A mortgage that has an adjustable interest rate (ARM) exists as a loan for a residence. The initial interest rate on an ARM stands fixed for a group length of time.
To learn more about adjustable rate mortgages refer to:
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You are considering a 3/5 ARM. What do the 5 represent?
A. The number of years that a fixed interest rate will be applied to the
loan.
B. The number of years between adjustments in the interest rate
C. The total number of years in the loan
D. The interest rate of the initial, fixed-rate loan period
