Home › Forums › Housing › Help me pick a mortgage… Yep, I’m taking the plunge in SD of all places › Doooh wrote:3 different
[quote=Doooh]3 different caps:
2% max per year 5% max for the life… 30yrs 5% optionional at lenders discretion max at year 6, at the end of the 5th yr[/quote]
The 3rd (optional) annual cap appears to be in place only if you end up at the 60th month owing 125% of its value.
That’s doesn’t appear to be too likely here :=]
Doooh, I still need the index and margin and I’ll give you my answer.
