Asked by julie

What may be a concern if you have an adjustable rate mortgage (ARM)?
a.
After the initial fixed rate period, your rate may increase.
b.
Your payment will constantly change during your initial fixed rate period.
c.
After the initial fixed rate period, your rate may decrease.
d.
A portion of your rate pays the commission of your mortgage broker.

All Answers 1

Answered by GPT-5 mini AI
a. After the initial fixed rate period, your rate may increase.

Explanation: ARMs can adjust upward after the initial fixed-rate period, which can raise your monthly payment — a primary risk of ARMs.