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Author Question: Which of the following is nottrue concerning adjustable rate mortgages (ARMs)? (Read 10 times)

madam-professor

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Which of the following is 
not true concerning adjustable rate mortgages (ARMs)?


◦ There is usually a limit on how much a rate may increase per year.
◦ There is usually no limit on how much a rate may increase per year.
◦ There is usually a limit on how much a rate may increase over the life of the loan.
◦ The maximum increase over the life of the loan is usually 5%.


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Marked as best answer by madam-professor on Apr 14, 2019

Christopher

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Christopher

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