Adjustable Rate Mortgages

Revised and updated with rates that reflect today’s real estate mortgage market, this pocket-size handbook presents quick-reference number charts that eliminate the need for calculation. As such, its tables are time-savers for business students, loan officers, and buyers seeking an adjustable rate mortgage. The tables are as follows: Monthly Payments, Payment Adjustments Resulting from Interest Rate Adjustments, Borrower’s Worst Case Annual Percentage Rates, Borrowers Worst Case Monthly Payments, Annual Percentage Rates for First Year, Value of Below-Market Initial Rate, Annual Loan Balance Reduction, and Worst Case Annual Percentage Rate for Convertible Adjustable Rate Mortgages.

Sredzienski

Adjustable rate mortgage have always been confusing for me with its various combinations like 3/1, 5/1.. and faced difficulty in calculating the payment amounts. This book seems to have all the tables for calculating payments, apr etc.
I hope it will be easier to make calculations with the help of this book. At around $9, looks affordable.

For adjustable rate mortgages interest rates change quite frequently and having tables to check the monthly payments and new payments after the interest rate changes will be useful. I was not aware any such book exists or would have purchased it much earlier.


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