Flexible payment ARM

Definition

An adjustable rate mortgage on which the interest rate is adjusted monthly, that has a low initial minimum payment that rises by

7 >> 5% a year for 5 years, but carries a risk of much larger payment increases.

Also called "option ARMs".

See Adjustable Rate Mortgages With Flexible Payments.

Related Terms

Other terms related to 'Flexible payment ARM' starting with the letter 'F'

Fees, Float, Fallout, FHA mortgage, Float down

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