FinanceCâu 78 / 120
In an adjustable-rate mortgage (ARM), the interest rate is periodically adjusted based on a specified:
a.Appraised value of the home
b.Financial index plus a margin
c.Broker's commission rate
d.Property tax rate
Giải thích
An ARM's rate is tied to a published index, and the lender adds a fixed margin to set the new rate at each adjustment. Caps typically limit how much the rate can change per period and over the loan's life.
Luyện miễn phí toàn bộ 120 câu hỏi — không cần đăng ký.
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