Question

A bank offers three mortgages shown. Which mortgage(s) will have fixed payments for at least the first 6 years?

Fixed rate mortgage at 5% for 15 years
Adjustable rate mortgage at 3% for 15 years with terms 6/2 and a cap of 2/4
Balloon mortgage at 4% with terms 15/4
Fixed rate only

Fixed rate and balloon only

Fixed rate and adjustable rate only

Fixed rate, adjustable rate, and balloon