Sentences with phrase «interval on an adjustable rate mortgage»

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Unlike a fixed rate home loan, which has a fixed interest rate for the life of the loan, the interest rate on an adjustable rate mortgage, or ARM, changes at contracts, agreed upon intervals.

The interest rate on a fixed - rate mortgage will remain the same for the entire life of your loan while the interest rate on an adjustable rate mortgage (ARM) may adjust at regular intervals and may be tied to an economic index, such as a rate for Treasury securities.

Adjustable Rate Mortgage (ARM) A mortgage loan that is adjusted on the basis of changes in interest rates; when rates change, ARM monthly payments increase or decrease at intervals determined by theMortgage (ARM) A mortgage loan that is adjusted on the basis of changes in interest rates; when rates change, ARM monthly payments increase or decrease at intervals determined by themortgage loan that is adjusted on the basis of changes in interest rates; when rates change, ARM monthly payments increase or decrease at intervals determined by the lender.

Interest rates on adjustable - rate mortgages, or ARMs, change after an initial period, such as a year, and then at regular intervals.