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Mortgage DocumentsMultistate Adjustable Rate Note ARM Plans 652 & 721 Single Family Fannie Mae UNIFORM INSTRUMENT (Form 3503)Type of InstrumentInstrument Revision Date Note1/01 (rev. 6/16)Instrument
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The multistate adjustable rate note is a legal document that outlines the terms and conditions of an adjustable rate mortgage loan.
Lenders are required to file the multistate adjustable rate note as part of the mortgage lending process.
To fill out the multistate adjustable rate note, lenders must provide details about the loan amount, interest rate, payment schedule, and other pertinent information.
The purpose of the multistate adjustable rate note is to establish the legal terms of the adjustable rate mortgage loan between the lender and the borrower.
The multistate adjustable rate note must include information about the borrower, lender, loan terms, interest rate adjustments, and other relevant details.
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