Financing Practice Question | Real Estate Exam | EstatePass

Financing

With an adjustable rate mortgage (ARM), monthly payments will:

A

Rise slightly until cap is reached

B

Be based on low rate then rise to market

C

Vary based on interest rate fluctuations

D

Ensure profitability

Explanation

ARM payments adjust periodically based on changes in the index rate, subject to rate caps.

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In Florida, a satisfaction of mortgage must be recorded within:

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