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Shawn bought a home with an adjustable rate mortgage. The margin on the loan is 2.7% and the rate cap is 7.2%?
Posted on October 19th, 2009 1 comment
animalhappy asked:
over the life of the loan. If the current index rate is 4.3% what is the initail interest rate of the ARM?
DOMINICRenting & Real Estate Adjustable Rate Mortgage, Current, Index Rate, Interest Rate, Loan Rate, Mortgage Loan, Rate Cap1 responses to “Shawn bought a home with an adjustable rate mortgage. The margin on the loan is 2.7% and the rate cap is 7.2%?”
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4.3 + 2.7 =7%
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Noneya October 22nd, 2009 at 09:42