CAP 5/2/5 means

来源: 于 2008-03-07 21:52:39 [博客] [旧帖] [给我悄悄话] 本文已被阅读：次

the loan fixed for first 5 years, at 6th year, the maximum rate could be "current rate"+5%.

After 6 th years, the rate will be adjusted every year with the maximum CAP 2%; and the lifetime CAP can not be over 5% + current rate.

If the current rate is 5.25%, the 6th year maximum rate is 10.25%; the rate cannot be over this rate any time.