Question: Which is false about Adjustable-rate mortgages? a. Rate will be adjusted based upon an index rate b. Rates have a maximum stated as a margin

Which is false about Adjustable-rate mortgages?

a. Rate will be adjusted based upon an index rate

b. Rates have a maximum stated as a margin between initial rate and maximum

c. Payment may also have a cap that limits how much the payment may be increased

d. Rates are dependent on a certain equation

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