Shawn bought a home with an adjustable rate mortgage.the margin on the loan is 2.7%, and the rate cap is 7.2% over the life of the loan. If the current index rate is 4.3% what is the initial interest rate of the arm?
Interest rate question.....can someone please help?
add the current index rate of 4.3% to 2.7% which is the margin.
Interest rate question.....can someone please help?
Shawn should read his book because FL Guy doesn%26#039;t want his banker being unable to perform a basic accounting problem.
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