Adjustable Rate Mortgage2

Definition of "Adjustable rate mortgage"

Jacquie  Testa
  BHHS Fox & Roach Realtors - Haverford Station

Also called variable or flexible rate mortgage. A mortgage where the interest rate is not constant, but changes over time. ARMs often have attractive beginning interest rates, called teaser rates, and monthly payments. However, there is the risk that payments will increase.

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