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Tim wants to buy an apartment that costs $750,000 with an 85%LTV mortgage. Tim got a 30 year, 3/1 ARM with an initial teaserrate of

Tim wants to buy an apartment that costs $750,000 with an 85%LTV mortgage. Tim got a 30 year, 3/1 ARM with an initial teaserrate of 3.75%. The reset margin on the loan is 300 basis pointsabove 1 ye 2 answers

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