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Mortgage Documents Alaska Adjustable Rate Note ARM 52 Single Family Fannie Mae/Freddie Mac UNIFORM INSTRUMENT (Form 3502.02)Type of InstrumentInstrument Revision Date Note1/01 (rev. 6/16)Instrument
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Alaska adjustable rate note is a type of promissory note where the interest rate can change periodically based on a predetermined index.
Lenders or financial institutions who offer adjustable rate mortgages are required to file alaska adjustable rate note.
Alaska adjustable rate note can be filled out by providing information about the borrower, lender, loan amount, interest rate, index used, adjustment periods, etc.
The purpose of alaska adjustable rate note is to outline the terms and conditions of an adjustable rate mortgage to protect both the borrower and lender.
Alaska adjustable rate note must include details about the terms of the loan, interest rate adjustments, payment schedule, prepayment penalties, etc.
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