Question

1

The main difference between a traditional mortgage and an ARM is the
Select the best answer from the choices provided.
OA higher down payment
OB. changeable interest rate
OC.
lower costs to the homeowner
OD. lack of homeowner's insurance
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Answer 1

OB. changeable interest rate

Explanation:

The difference between a fixed rate and an adjustable rate mortgage is that, for fixed rates the interest rate is set when you take out the loan and will not change. With an adjustable rate mortgage, the interest rate may go up or down.