This is a type of mortgage loan in which the interest rate varies throughout the life of the loan as it is dictated by the movements of an assigned index or a designated market indicator. This kind of mortgage is ideal for property buyers who are deciding to pay off the loan in full within a specific time frame or for those who will not be financially burdened once the rate is adjusted.
Adjustable Rate Mortgage (ARM)
This is a type of mortgage loan in which the interest rate varies throughout the life of the loan as it is dictated by the movements of an assigned index or a designated market indicator. This kind of mortgage is ideal for property buyers who are deciding to pay off the loan in full within a specific time frame or for those who will not be financially burdened once the rate is adjusted.
