Ch.9-Web Assignment-pg244 - 3. What is the periodic cap...

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Chapter 9: Real Estate Finance: The Laws and Contracts Robb Page 18-Feb-2010 FIN 497: Real Estate Principles Professor Clements Explore the Web – page 244. Find and download a standard adjustable rate mortgage note form appropriate for your state. 1. What is the index rate? 3.95% 2. How is the adjustment computed? 5.00/2.00/5.00
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Unformatted text preview: 3. What is the periodic cap rate? 5.00 4. Does it apply to both increases and decreases? Yes. 5. Does the cap apply to the first interest rate change? No. 6. What must a buyer of the property do to have the loan continue after purchase? Prepayment penalty. See attachments for details. 1...
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This note was uploaded on 04/25/2010 for the course FIN 497 taught by Professor Clements during the Spring '10 term at University of Missouri-Kansas City .

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