Variable Rate Mortgage
Variable
Rate Mortgage
The
variable rate mortgage, affectionately know as Adjusatuble rate mortgage or ARM
is a mortgage with a rate that will adjust over time. You may be familiar
with the term three
year ARM, or five-year
ARM.
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Caps, Payment
Caps
(Payment)
Consumer
safeguards which limit the amount monthly
payments
on an adjustable
rate mortgage may change per year and/or the life of the loan.
See
also: ARM
Mortgage
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