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Personal Finances / Buying or Selling a Home
|Subject: Re: financing the next house||Date: 2/17/2014 12:09 AM|
|Author: CCinOC||Number: 126824 of 128370|
As long as you are giving details, how do the limits work on the 1-month ARM? I imagine there must be caps of some sort. Are they monthly caps, or annual caps? Is there a lifetime cap?
No limits. No caps.
Since you're willing to give the details for others who may be interested, I'd like to see some of the basics. What's the payment per thousand on this loan? That's something I could easily compare to other loans to get a feel for the difference as well.
$1.75 per thousand interest only.
$4.12 per thousand fully amortized over 25 years.
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