Pre-Application 5-1 Year Adjustable Rate Mortgage Loan ...

For example, on a $10,000, 30-year loan with an initial interest rate of 4.25% in effect in November 2012, the maximum amount that the interest rate can rise under this program is 5.000 percentage points, to 9.25%, and the monthly (interest-only) payment can rise from a first-year payment of $35.42 to $77.08 in the 6th year of the loan. ................
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