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You are considering a 3/5 ARM. What does the 5 represent?
O A. The total number of years in the loan
• B. The number of years between adjustments in the interest rate
• C. The interest rate of the initial fixed-rate loan period
•
D. The number of years that a fixed interest rate will be
loan
applied to the
SURMI

Sagot :

abiolataiwo2015

The 5 represent: B. The number of years between adjustments in the interest rate.

What 5 represent in 3/5 ARM?

5 represent  the number of years before mortgage interest rate will be adjusted.

A 3/5 ARM means that the loan will have interest rate that is fixed   after that the loan will be adjusted.

Therefore the correct option is B.

Learn more about 34/5 ARM here:https://brainly.com/question/1447205

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