Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Which type of mortgage loan features rates that change periodically with market conditions?

April 26, 2017Conditions features market mortgage loan periodically rates type

0

Posted

Which type of mortgage loan features rates that change periodically with market conditions?

1 Answer

0

Posted

An adjustable-rate mortgage (ARM) is a loan with an interest rate that changes.ARMs may start with lower monthly payments than fixed-rate mortgages,but your monthly payments could change.If you want to pay off your ARM early you might pay a penalty.