Adjustable Rate Mortgage Variants

Like Adjustable Rate Mortgages these variants are still not fixed for the entirety of the loan’s lifespan, like a fixed rate mortgage is, but also contain a key factor that makes them differ from the normal definition of an Adjustable Rate Mortgage. These three variants are; Hybrid Adjustable Rate Mortgages, Option Adjustable Rate Mortgages, and[…]

Adjustable Rate Mortgage

An Adjustable Rate Mortgage, more commonly known by its acronym ARM, is a mortgage loan characterized by the ability of the loans interest payments to be changed due to market and index changes. Adjustable Rate Mortgages are also commonly called variable rate mortgages, or tracker mortgages. What is an Adjustable Rate Mortgage? In the standard[…]