A 7/1 Hybrid ARM:
A. Has an initially-stable interest rate for seven years and then adjusts annually for 23 years thereafter
B. Has an initially-stable interest rate for 23 years and then adjusts annually for 7 years thereafter
C. Has an initially-stable interest rate for 7 years and adjusts every seven years thereafter
D. Must be paid in full after 7 years
Answer:A
A 7/1 Hybrid ARM:
A. Has an initially-stable interest rate for seven years and then adjusts annually for 23 years thereafter B. Has an initially-stable interest rate for 23 years and then adjusts annually for 7 years thereafter C. Has an initially-stable interest rate for 7 years and adjusts every seven years thereafter D. Must be paid in full after 7 years