Adjustable Mortgage Loan
Adjustable Mortgage Loan
Definition: A mortgage instrument that allows maximum flexibility in selecting the terms under which interest rates and payments may be adjusted over the maturity of the loan. Includes adjustable rate mortgages, renegotiated rate mortgages, variable rate mortgages.
Definition: A mortgage instrument that allows maximum flexibility in selecting the terms under which interest rates and payments may be adjusted over the maturity of the loan. Includes adjustable rate mortgages, renegotiated rate mortgages, variable rate mortgages.