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 or "ARM" means a payment option ARM or a hybrid ARM (commonly known as a 2/28 or 3/27 loan).

Examples of Adjustable rate mortgage in a sentence

• RCW 19.144.010 and 2008 c 108 s 2 are each amended to2 read as follows:3 The definitions in this section apply throughout this chapter4 unless the context clearly requires otherwise.5 (1) "Adjustable rate mortgage" or "ARM" means a payment option6 ARM or a hybrid ARM (commonly known as a 2/28 or 3/27 loan).7 (2) "Application" means the same as in Regulation X, Real Estate8 Settlement Procedures, 24 C.F.R. Sec.

• Before advertisement, you must confirm budget availability with the appropriate Finance Manager.

• Adjustable rate mortgage or ARM is basically a type of loan, where the rate of interest is calculated on the basis ofthe previously selected index rate.

• Adjustable rate mortgage loans may contribute to higher delinquency rates.

• There are a few types of mortgage loans, including:  Fixed rate mortgage loans Adjustable rate mortgage loans Balloon mortgages, and Jumbo loans You should be familiar with these loans so that you will be able to make an informed decision when it comes to financing your new home.

More Definitions of Adjustable rate mortgage

Adjustable rate mortgage or "ARM" means a payment option

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 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.

Adjustable rate mortgage means, with respect to a

Adjustable rate mortgage. A Mortgage Loan that provides for periodic adjustments to the interest rate.

Adjustable rate mortgage. A type of mortgage where the interest rate changes during the term of the loan. This change can be influenced by factors, like, interest rate on treasury securities. Advance-Fee Loan: A type of loan where all the finance charges as well as credit expenses are deducted before providing principal amount to the borrower. Affinity Card: A type of credit card made available by the credit card issuer in association with another non-financial group or organization. The affinity group can be a nonprofit organization, universities, sports franchisee, etc, to which a part of the revenue (generated in the form of finance charges) is donated. From the cardholders point of view, they get special discounts or deals when they use their affinity credit cards. This type of credit cards are generally provided to those who are members or have some affinity for the sponsoring organization. Agreement: An agreement is a formal contract or written document regarding the terms and conditions on which credit is provided. It generally includes the terms that are applicable to credit card, interest rate and how it is calculated as well as transaction fee. Alternative Methods of Payment: This term refers to methods of payments which do not involve money. Basically, it covers non-cash payment options, like, credit and debit card, value access services and billing extensions. Alternative Mortgage: A term used to signify any home loan except fixed-rate mortgage. Air Miles: Air miles is a reward scheme related to air travel, where the credit cardholders earn points and miles for every purchase they make by using their credit card. These collected miles can be exchanged for free air travel or discounts and for other retail goods and gift cards. Amount Due: It is not the total amount you owe to your creditor, instead it is the minimum monthly payment that you have to make. Amount Past Due: Refers to the current amount that has not been paid at the scheduled time,

Adjustable rate mortgage. Loan shall contain a provision whereby the borrower can convert its Mortgage Loan to a fixed rate instrument;