Question: What is an initial cap, as it relates to an adjustable rate mortgage? The number of percentage points that are added to the index to

What is an initial cap, as it relates to an adjustable rate mortgage?
The number of percentage points that are added to the index to determine the rate
The value that limits the amount that interest can adjust at the mortgage's first interest rate adjustment
The value that limits the amount the rate can adjust at subsequent adjustment dates
The value that limits the amount the rate can adjust over the life of the loan
What is an initial cap, as it relates to an adjustable

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