Types of Mortgage Loans
An interest rate that started at 4.5% for the first year could climb to 6.5% the second, 8.5% the third and to 10.5% the fourth. If your income and other debts are such that you could not withstand a $125.00 per month increase from Year One to Year Two, or a $262 increase from Year One to Year Three, this is not a good loan for you. ................
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