October 2007

Simple Real Estate Definitions: Adjustable Rate Mortgage

October 24, 2007 by MikeRosen · Leave a Comment 

Adjustable Rate Mortgages are mortgages for which the interest rate is subject to change over time according to pre-defined rules.
ARM is a common acronym for Adjustable Rate Mortgage and every ARM has similar features:

An initial fixed period during which the mortgage rate doesn’t change
An initial interest rate that is charged during the initial fixed period
An [...]