1) what is the monthly pmt in year 2? 2) What is the loan balance...
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1) what is the monthly pmt in year 2?
2) What is the loan balance in year 2?
3) What is the mortgage rate in year 3?
4) What is the monthly pmt in year 3?
An ARM loan, Loan Amount = $250,000; Monthly Payments, Index = 1-Year Treasury bill. Index at the end of year 1 is 7%. Index at the end of year 2 is 6,5%. Index at the end of year 3 is 8.0%. One Year Adjustable, Margin - 1.50%, Term = 30 years. Interest Rate Caps: annual 2% and life 5.5%, Teaser Rate - 5%. The loan has negative amortization An ARM loan, Loan Amount = $250,000; Monthly Payments, Index = 1-Year Treasury bill. Index at the end of year 1 is 7%. Index at the end of year 2 is 6,5%. Index at the end of year 3 is 8.0%. One Year Adjustable, Margin - 1.50%, Term = 30 years. Interest Rate Caps: annual 2% and life 5.5%, Teaser Rate - 5%. The loan has negative amortization
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