adjustable rate mortgage: What is an Adjustable Rate Mortgage, ARM, and who can benefit from it
- 05/03/13 02:44 AM
What is an Adjustable Rate Mortgage (ARM) and who can benefit from it? Adjustable Rate Mortgages (ARM) 1-Year ARM, Caps of 2/6? An Adjustable Rate Mortgage is a mortgage loan in which · The interest rate adjusts periodically according to a predetermined index and margin. · The adjustment of the interest rate results in the mortgage payment either increasing or decreasing. · Periodic adjustments to the interest rate can occur every six months, every year or in multiple years. · ARMs typically have a lower initial interest rate vs. fixed. · There are ARMs that have (0 comments)
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