Sentences with phrase «pre-selected interest rate index»
Rates may increase or decrease over time based on a pre-selected interest rate index.
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After the term is over, the interest rate is adjusted periodically according to a pre-selected index.
A mortgage in which the interest rate is adjusted periodically according to the movement in a pre-selected index.
Adjustable Rate Mortgage (ARM) A mortgage in which the interest rate is adjusted periodically based on a pre-selected index and margin, also referred to as the renegotiable rate mortgRate Mortgage (ARM) A mortgage in which the interest rate is adjusted periodically based on a pre-selected index and margin, also referred to as the renegotiable rate mortgrate is adjusted periodically based on a pre-selected index and margin, also referred to as the renegotiable rate mortgrate mortgage.
Adjustable rate mortgages have interest rates that are fixed for a specified term (3, 5, 7 or 10 years) and then adjust annually based on changes in a pre-selected index.
Adjustable rate mortgages have interest rates that are fixed for a specified term, typically 3, 5, 7 or 10 years, and then adjust annually based on changes in a pre-selected index.