Question
You have been offered a $500k 7/1 Hybrid ARM Loan with 1pt in origination fees, teaser of 4.8%, margin of 288bp, and future composite rates
You have been offered a $500k 7/1 Hybrid ARM Loan with 1pt in origination fees, teaser of 4.8%, margin of 288bp, and future composite rates indexed to LIBOR, which was 3.24% at the time of origination. What is the size of the 6th monthly payment of this ARM Loan? Please indicate your answer to the cents place, with two digits right of the decimal.
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Behavioral Finance And Capital Markets
Authors: A. Szyszka
5th Edition
1137338741, 9781137338747
