This preview shows page 1. Sign up to view the full content.
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...
View Full Document
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 .
- Spring '10