Categories
Investments glossary

2/28 Adjustable-Rate Mortgage (2/28 ARM)


Warning: Zend OPcache API is restricted by "restrict_api" configuration directive in /srv/users/serverpilot/apps/goldoildrugs/public/wp-content/plugins/tubepress/vendor/tedivm/stash/src/Stash/Driver/FileSystem.php on line 253
Spread the love
Quotes of the day:

Success and failure are both difficult to endure. Along with success come drugs, divorce, fornication, bullying, travel, meditation, medication, depression, neurosis and suicide. With failure comes failure.

— Joseph Heller

A 2/28 adjustable-rate mortgage (2/28 ARM) is a type of 30-year home loan that has an initial two-year fixed interest rate period. After this 2-year period, the rate floats based on an index plus a margin. The initial teaser rate is below average for conventional mortgages, but the adjustable rate can rise significantly. Since banks don’t make much money on the initial teaser rate, 2/28 ARMS include hefty pre-payment penalties during the first two years.

YouTube responded with an error: The request cannot be completed because you have exceeded your <a href="/youtube/v3/getting-started#quota">quota</a>.


We uses YouTube API Services.
Click to rate this post!
[Total: 0 Average: 0]