Adjustable Rate Mortgage (ARM)
A mortgage with an interest rate that changes periodically
Full Definition
Why It Matters
Understanding adjustable rate mortgage (arm) helps you make informed decisions about your mortgage. This knowledge can save you money and help you avoid common pitfalls in the homebuying process.
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Frequently Asked Questions
Adjustable Rate Mortgage (ARM) refers to a mortgage with an interest rate that changes periodically. This is an important concept in mortgage lending that affects how your loan works.
Understanding adjustable rate mortgage (arm) can help you make better decisions about your mortgage. Contact NMHL for personalized guidance on how this applies to your situation.
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