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Finance: Mortgages
A borrower received a 30year ARM mortgage loan for $200,000. Rate caps are 3/2/6 (initial adjustment cap/periodic interest rate cap/lifetime interest rate cap). The start rate is 3.50% and the loan adjusts every 12 months for the
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a borrower received a 30 year ARM mortgage loan for 200,000. Rate caps are 3/2/6 the start rate is 3.50% AND the loan adjusts every 12 months for the life of the mortgage, The index used for this mortgage is LIBOR which for this
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asked by matt on May 26, 2011 
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A borrower received a 30year ARM mortgage loan for $120,000. Rate caps are 3/2/6 (first adjustment/subsequent adjustments/total over the life of the loan). The start rate was 3.50% and the loan adjusts every 12 months for the
asked by Donna on November 5, 2013

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Case: A borrower received a 30year ARM mortgage loan for $200,000. Rate caps are 3/2/6. The start rate is 3.50% and the loan adjusts every 12 months for the life of the mortgage. The index used for this mortgage is LIBOR (for
asked by jim on May 7, 2020 
loans
A borrower received a 30year ARM mortgage loan for $200,000. Rate caps are 3/2/6 (initial adjustment cap/periodic interest rate cap/lifetime interest rate cap). The start rate is 3.50% and the loan adjusts every 12 months for the
asked by Ann on May 16, 2019 
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You have been living in the house you bought 10 years ago for $300,000. At that time, you took out a loan for 80% of the house at a fixed rate 15year loan at an annual stated rate of 9%. You have just paid off the 120th monthly
asked by Anonymous on October 8, 2014 
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You have been living in the house you bought 10 years ago for $300,000. At that time, you took out a loan for 80% of the house at a fixed rate 15year loan at an annual stated rate of 9%. You have just paid off the 120th monthly
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You have been living in the house you bought 10 years ago for $500,000. At that time, you took out a loan for 80% of the house at a fixed rate 30year loan at an annual stated rate of 6%. You have just paid off the 120th monthly
asked by rebecca potts on September 30, 2012 
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In a discount interest loan, you pay the interest payment up front. For example, if a 1year loan is stated as $10,000 and the interest rate is 10 percent, the borrower “pays” 0.10 x $10,000 = $1,000 immediately, thereby
asked by Bryan on January 10, 2011
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