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Mortgage Professor about fixed rate: | |||||||||||||||||||||||
Fixing the Mortgage System So It Works For Borrowers
September 5, 2005 In some respects, the United States housing finance system is the best in the world. In other respects, it is unworthy of a banana republic. Our housing finance system has a primary market and a secondary market. The primary market is the market the borrower ... more... What Is an Adjustable Rate Mortgage? January 7, 2000, Revised October 29, 2004 "I have been told that I need an ARM to qualify for the loan I want, and that terrifies me because I don't understand what an ARM is. Can you explain it in ... more... |
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fixed rate related definitions |
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Adjustable Rate Mortgage, ARM
Adjustable Rate Mortgage (ARM) Also known as a variable rate mortgage. The interest rate on these mortgages changes periodically. Variable or adjustable loans are loans whose interest rate fluctuates over the period of the ... more... Baloon Mortgage Baloon Mortgage Baloon Mortgage is usually a short-term fixed-rate loan which involves small payments for a certain period of time and one large payment for the remaining amount of the principal at a time specified in the ... more... |
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