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Also called a variable-rate mortgage, an adjustable-rate mortgage has an interest rate that may change periodically during the life of the loan in accordance with changes in an index such as the U.S. Prime Rate or the London Interbank Offered Rate (LIBOR). Bank of America ARMs use LIBOR as the basis for ARM interest rate adjustments.
A loan application for a home mortgage typically contains more than 130. of extra mortgage payments in the bank after they buy their house is.
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First, use our mortgage calculator to discover how much house you can afford. Mortgage Calculator . Then: (If you have an online mortgage application already started, you can easily pickup where you left off.) You can always contact a Mortgage Loan Officer!
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