If one of the terms of an ARM read, interest is capped at 2%/5%, what would...

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If one of the terms of an ARM read, interest is capped at 2%/5%, what would that mean? Page 137 The borrower can choose the c

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Ans The interest rate has a 2% annual cap rate and a 5% lifetime cap rate.

If one of the terms of an arm read interest is capped at 2% /5% that would mean that the interest rate has a 2% annual cap rate and a 5% lifetime cap rate.

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If one of the terms of an ARM read, interest is capped at 2%/5%, what would...

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