Adjustable Rate Mortgage Definition
Adjustable Rate Mortgage
DEFINITION
Adjustable rate mortgage or ARM is a type of mortgage, where the rate of interest is calculated on the basis of the previously selected index rate. Due to this, the rate of interest that is charged differs periodically, usually in every month. The rate of interest and the total interest remain variable throughout the mortgage period.
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Terri J Lee S.
Arizona Member
I originally joined LegalShield because I wanted to get my will completed. However, I have kept my membership because of the value it provides. I feel good knowing that if I have a legal question or if I need help with a legal document, I can contact LegalShield. I would highly recommend this company, and in fact, I have referred some of my friends and family members
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