what is a 5/1 ARM mortgage loan?
its now been 3 years into the 5/1 arm…Our monthly mortgage payment is $ 792 thats including our escrow……..MY QUESTION IS
How much will our monthly Mortgage be after the five years is up???
Based on todays interest Rates?????
Note: Our house is worth about $ 284,000 and we have about $ 179,000 in Equity>
Note> Our principal balance is $ 99,000.