Adjustable Rate Mortgage (ARM), Glossary and Terms, Attorney's office, Personal Lawyer
Attorney's office, Law US, Rate, Review, Condition, Defense, Assurance
"Adjustable Rate Mortgage (ARM)"
Mortgage loans under which the interest rate is periodically adjusted, in accordance with some market indicator, to more closely coincide with the current rates. The extent and number of these adjustments are agreed to at the inception of the loan.