Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
5-6 Hybrid Adjustable-Rate Mortgage - 5-6 Hybrid ARM — An adjustable rate mortgage with an initial five year fixed interest rate after which the interest rate begins to adjust every six months according to an index plus a margin (or, the fully indexed interest rate). The index is variable while the… … Investment dictionary
5-1 Hybrid Adjustable-Rate Mortgage - 5-1 Hybrid ARM — An adjustable rate mortgage (ARM) with an initial five year fixed interest rate. After this initial five year period, the interest rate begins to adjust on an annual basis according to an index plus a margin (or, the fully indexed interest rate) … Investment dictionary
Adjustable-rate mortgage — A variable rate mortgage, adjustable rate mortgage (ARM), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit… … Wikipedia
Fixed rate mortgage — A fixed rate mortgage (FRM) is a mortgage loan where the interest rate on the note remains the same through the term of the loan, as opposed to loans where the interest rate may adjust or float. Other forms of mortgage loan include interest only… … Wikipedia
Mortgage calculator — Mortgage calculators are used to help a current or potential real estate owner determine how much they can afford to borrow on a piece of real estate. Mortgage calculators can also be used to compare the costs, interest rates, payment schedules,… … Wikipedia
Mortgage loan — Mortgage redirects here. For other uses, see Mortgage (disambiguation). Finance Financial markets … Wikipedia
mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… … Black's law dictionary
mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… … Black's law dictionary
Hybrid ARM — An adjustable rate mortgage blends the characteristics of a fixed rate mortgage and an adjustable rate mortgage. This type of mortgage will have an initial fixed interest rate period followed by an adjustable rate… … Investment dictionary
US mortgage terminology — This page aims to explain specific US mortgage terminology to readers.Mortgage types*Adjustable rate mortgage or ARM A mortgage where the interest rate adjusts relative to a specified index + margin. Eg. COFI, LIBOR etc. *Hybrid ARM An adjustable … Wikipedia
