Question: Question 14 (1 point) The initial rate on a 30-year, 3/1 ARM is 4%. The loan has a margin of 2.5%, a 2% per year

Question 14 (1 point) The initial rate on a 30-year, 3/1

Question 14 (1 point) The initial rate on a 30-year, 3/1 ARM is 4%. The loan has a margin of 2.5%, a 2% per year cap, and a 6% lifetime cap. At origination, the index (1-year T-Bill) is 1%. The maximum rate that can ever be charged is 06% 10% 7% Previous Page Next Page Page 14 of 50 Question 14 (1 point) The initial rate on a 30-year, 3/1 ARM is 4%. The loan has a margin of 2.5%, a 2% per year cap, and a 6% lifetime cap. At origination, the index (1-year T-Bill) is 1%. The maximum rate that can ever be charged is 06% 10% 7% Previous Page Next Page Page 14 of 50

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