Adjustable rate mortgage definition
Adjustable rate mortgage or "ARM" means a closed-end
Adjustable rate mortgage or "ARM" means a closed-end mortgage transaction that allows adjustments of the loan interest rate during the first 3 years of the loan term.
Adjustable rate mortgage means a mortgage in which the teaser rate, payment rate or the interest rate changes periodically and in some cases, may adjust according to corresponding fluctuations in an index.
More Definitions of Adjustable rate mortgage
Adjustable rate mortgage or "ARM" means a payment option
Adjustable rate mortgage or "ARM" means a payment option ARM or a hybrid ARM (commonly known as a 2/28 or 3/27 loan).
Adjustable rate mortgage means a Loan that has “a variable rate feature” as used in 12 C.F.R. § 226.18(f).
Adjustable rate mortgage means, with respect to a
Adjustable rate mortgage means a mortgage where the interest rate is not fixed, but changes during the life of the loan in line with movements in an index rate.
Adjustable rate mortgage means a mortgage loan that does not have a fixed interest rate or on some other basis. During the life of the loan the interest rate will change based on a specified index rate or on some other basis. Also known as adjustable mortgage loans or variable rate mortgages.
Adjustable rate mortgage. Loan shall contain a provision whereby the borrower can convert its Mortgage Loan to a fixed rate instrument;