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

Adjustable rate mortgage security whose interest rate generally adjusts monthly based on a weighted average of interest rates on the underlying mortgages.
Adjustable rate mortgage loans which comply with the requirements of this paragraph are eligible for guar- anty.
Adjustable rate mortgage loans may contribute to higher delinquency rates.
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.
Adjustable rate mortgage loans may entail greater risks of default to lenders than fixed rate mortgage loans.

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. ’ means a residential

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

Adjustable rate mortgage means a mortgage loan that does not have a fixed interest rate or on some other basis. During the life of the loan the interest rate will change based on a specified index rate or on some other basis. Also known as adjustable mortgage loans or variable rate mortgages.