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[ 4 points ] Jack and Diane's have received one more offer for a home mortgage. This option - Option C , is described below.
points Jack and Diane's have received one more offer for a home mortgage. This option
Option C is described below. The purchase cost $ of the condo will remain the same and
the time they expect to remain in the home years remain the same. Details of this new loan
option are described below.
Option D: A year adjustable rate mortgage ARM in which the initial interest rate of
APR for the first three years of the loan. After this initial fixed rate period the interest rate will
change as described below. This option will require a down payment, which will again be
paid from their savings. The $ in closing costs and fees can once again be included in the
loan finance amount. Payments will once again be made on a monthly basis.
a points Find the monthly payment for each of the years of this adjustable rate mortgage.
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