"It sounds wonderful," Ma said politely in her gentle voice. "And what will our rate be after the introductory period, Mr. Edwards?"
"That depends on those scoundrels in Washington!" Mr. Edwards declared hotly.
"Pa, how much will we pay for the house?" Mary asked.
"What we pay doesn't matter much, Mary," Pa explained. "At 1.5 percent interest, we can easily service the debt on the principal."
Laura was confused. "But when do we pay off the principal, Pa?" she asked.
"She's got you there, Edwards!" Pa laughed. "What about that principal?"
"Those are two mighty smart daughters you have there, Ingalls," Mr. Edwards said admiringly. "Well, it's pretty simple. Your loan will reamortize every 60 months. The minimum payment will be recalculated at that time, but your rate will vary annually according to the then-current prime lending rate. Of course, your regular rate and payment resets will continue to apply, but these will be capped at— Look! A jackrabbit!"
"Good game surely is plentiful in this country," Pa observed.
-- Susan Schorn's "Little Housing Crisis on the Prairie" at McSweeney's