A mortgage broker is offering a $225,000 30-year mortgage with a teaser rate. In the first two years of the mortgage, the borrower makes monthly payments on only a 2.5% APR interest rate. After the second year, the mortgage interest rate charged increases to 8.5% APR. What are the mortgage payments in the first two years? What are the mortgage payments after the second year?

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The Answer of A mortgage broker is offering a $225,000 30-year mortgage with a teaser rate. In the first two years of the mortgage, the borrower makes monthly payments on only a 2.5% APR interest rate. After the second year, the mortgage interest rate charged increases to 8.5% APR. What are the mortgage payments in the first two years? What are the mortgage payments after the second year?

A Mortgage Broker Is Offering a $225,000 30-Year Mortgage with a Teaser