A limit on how much the interest rate can change either at each adjustment or during the life of the mortgage, e.g., “2/6” equates to 2% per year and 6% over life of loan.
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Bennett Bennett & Trice, PLLC
6807 Indiana Ave.
Ste. 200
Lubbock, TX 79413
(806) 589-5111 Phone
(806) 589-0121 Fax
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Bennett Bennett & Trice, PLLC
6807 Indiana Ave.
Ste. 200
Lubbock, TX 79413
(806) 589-5111 Phone
(806) 589-0121 Fax