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Adjustable Mortgage Rate

Definition

An "Adjustable Rate Mortgage" or ARM refers to the type of mortgage loan where the interest rate and monthly payments can be adjusted to rise and fall with market conditions. The interest rate and payments can be adjusted as frequently as once a month or you can adjust the principal loan balance or the loan term to reflect the rate change.

Notes
See Adjustable Rate Mortgage (ARM).

Acronyms
AMR