Conversion option
Definition
The option to convert an ARM to an FRM at some point during its life. These loans are likely to carry a higher rate or points than ARMs that do not have the option
Related Terms Other terms related to 'Conversion option' starting with the letter 'C' Closing, Cap, Conforming mortgage, Construction financing, Current index value Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 