Ask Question
5 January, 11:10

You are considering a 7/1 arm. What does the 1 represent?

+2
Answers (2)
  1. 5 January, 12:09
    0
    1 represents the number of years between adjustments in the interest rate

    Checked on apex
  2. 5 January, 13:10
    0
    A 7 year ARM is a loan with a fixed rate for the first seven years, and an adjustable rate every year thereafter. Because the interest rate can change after the first seven years, the monthly payment may also change.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “You are considering a 7/1 arm. What does the 1 represent? ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers