Pre-Application 5-1 Year Adjustable Rate Mortgage Loan ...
For example, on a $10,000, 30-year loan with an initial interest rate of 3.625% in effect in June 2016, the maximum amount that the interest rate can rise under this program is 5.000 percentage points, to 8.625%, and the monthly (interest-only) payment can rise from a first-year payment of $30.21 to a maximum of $71.88 in the 8th year of the loan. ................
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