Which statement is true of an adjustable rate mortgage?
a) payments will adjust each y...
Business, 04.02.2020 14:00 JFrocks2480
Which statement is true of an adjustable rate mortgage?
a) payments will adjust each year based on the amount of equity you have in your home
b) the interest rate will stay fixed for a period of time, then adjust either up or down based on an index
c) the interest rate can only change twice during the course of the loan
d) an adjustable rate mortgage always includes a balloon payment at the end of the 7th year
Answers: 1
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