# You Are Considering A 3/5 Arm. What Does The 5 Represent?

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So if your 3/1 rate would reset to 3.5 if it were adjusting today, that might be your qualifying rate. It all depends on the loan terms and the lender. The ARM’s moving parts: how they work together

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A 5/2/5 ARM is tied to a certain index. Among the most common indexes that determine arm rates are the london interbank offered rate, or LIBOR, and the 11th District Cost of Funds Index, or COFI. You might therefore, be offered a LIBOR or COFI ARM. Rate fluctuations are tied to the specified index, plus a margin of about 2 percent to 3 percent.

For example, if your 3/1 ARM has a 3 percent margin and the interest rate index is 5.4 percent when the interest rate is scheduled to change, the new rate would be 8.4 percent. Potential The advantage of ARM mortgages is also the disadvantage: your interest rate will change without you having to take out a new loan.

Considering the ARM Rate Adjustment Only borrowers who are certain they will be out of the house before the first rate adjustment can afford to ignore what might happen to their rate and payment at that point. This question can be addressed in two stages. In stage one, you make the assumption.

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It simply means [math]3.3*10^{-5}[/math] Try this trick! Google [math]1 + 3.3e-5[/math] here and the result should clear up your doubt!

Arm Mortgages 30-Year vs. 5/1 ARM mortgage: Which Should I Pick? – When you apply for a mortgage, there are two basic varieties to choose from: fixed-rate or adjustable-rate. By far the most common mortgage product in the United States is the 30-year fixed-rate, and.

How do I get the answer to (3/5 – 3/10) x 30= I need to know how to get the answer to the math problem above.. so we need to subtract 3/10 from 3/5. To do this we need an LCD or Least Common Denominator, which in this case is 10. Now what ever to do to the bottom of the fraction make it ten.