Question

What is one characteristic of a hybrid ARM loan?

A. An initial fixed rate followed by periodic rate adjustments
B. A short duration, usually 5 years or less
C. Must have a cosigner
D. Used for vehicle purchases only

Answer 1

Hybrid ARMs

A hybrid ARM features an interest rate that is fixed for an initial period of time, then floats thereafter. The "hybrid" refers to the ARM's blend of fixed-rate and adjustable-rate characteristics.

Step-by-step explanation:

Answer 2

a

Step-by-step explanation:

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