Multiple Choice
What feature in an adjustable rate mortgage protects the borrower against very large monthly payment increases?
A) Index rate
B) Adjustment period
C) Interest rate cap
D) Margin
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q60: The most popular index is the local
Q61: By far the most common adjustment period
Q62: It is possible for individuals to buy
Q63: Under a construction loan, also called a(n)_
Q64: Equity mortgages are typically first lien mortgages
Q66: Regulation Z requires creditors to state the
Q67: The benefit of an ARM is that
Q68: The type of ARM loan with an
Q69: Equity sharing provides that in return for
Q70: The interest rate on an ARM is