Adjustable Rate Mortgage in United States

Adjustable Rate Mortgage Definition

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Adjustable Rate Mortgage definition in the Law Dictionary

Adjustable Rate Mortgage in Foreign Legal Encyclopedias

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Adjustable Rate Mortgage (arm) in the context of Real Estate

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See Also

• Adjustable Mortgage Loan’s (ARL’S)

Adjustable-rate Mortgage (ARM) in Mortgage Law

In the field of mortgage refinancing, a concept of Adjustable-rate Mortgage (ARM) may be the following: A mortgage that does not have a fixed interest rate. The rate changes during the life of the loan based on movements in an index rate, such as the rate for Treasury securities or the Cost of Funds Index. ARMs usually offer a lower initial interest rate than fixed-rate loans. The interest rate fluctuates over the life of the loan based on market conditions, but the loan agreement generally sets maximum and minimum rates. When interest rates increase, generally your loan payments increase; and when interest rates decrease, your monthly payments may decrease. For more information on ARMs, see the Consumer Handbook on Adjustable-Rate Mortgages produced by the Federal Reserve Board.

Adjustable-rate Mortgage (ARM) in Mortgage Law

In the field of mortgage refinancing, a concept of Adjustable-rate Mortgage (ARM) may be the following: A mortgage that does not have a fixed interest rate. The rate changes during the life of the loan based on movements in an index rate, such as the rate for Treasury securities or the Cost of Funds Index. ARMs usually offer a lower initial interest rate than fixed-rate loans. The interest rate fluctuates over the life of the loan based on market conditions, but the loan agreement generally sets maximum and minimum rates. When interest rates increase, generally your loan payments increase; and when interest rates decrease, your monthly payments may decrease. For more information on ARMs, see the Consumer Handbook on Adjustable-Rate Mortgages produced by the Federal Reserve Board.