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Business, 29.04.2021 01:20 shykim

A mortgage lender has offered you a $325,000 30-year 3/1 Hybrid adjustable rate mortgage (ARM) loan with monthly payments that fully amortizes with $4,000 of origination fees. The initial rate of the offered loan is 3.6%, but future payments after the loan resets will be indexed the current 10-year T-bond rate plus a margin of 276 basis points. There are no interest-rate caps on the loan and the 10-year T-bond rate will be equal to 3.24% at the time the loan will be originated. What is the anticipated size in dollars of the 44th payment rounded to the nearest cent

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A mortgage lender has offered you a $325,000 30-year 3/1 Hybrid adjustable rate mortgage (ARM) loan...

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