Which of these describes how a 5/1 ARM mortgage works? A)The annual fees on the mortgage are only charged during the first five years of the loan B)The monthly payment is one-fifth of the total purchase

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question

asked May 12, 2021 136k views

3 votes

Which of these describes how a 5/1 ARM mortgage works?

A)The annual fees on the mortgage are only charged during the first five years of the
loan
B)The monthly payment is one-fifth of the total purchase price of the house.
C)The interest rate charged on the mortgage is five times the normal interest rate.
D)The interest rate is fixed for five years and then changes every year afterward.

Social Studies
middle-school

Greta asked

by Greta

7.4k points

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

4 votes

Answer:D)The interest rate is fixed for five years and then changes every year afterward.

Step-by-step explanation:

Petobens answered May 19, 2021

by Petobens

7.8k points

0 Comments

Please log in or register to add a comment.

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

8.3m questions

10.9m answers

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

0 Comments

Please log in or register to add a comment.

Other Questions