Group items tagged

An adjustable rate mortgage aka ARM is a mortgage loan on which the interest rate keeps on varying throughout the "life" or tenure of the loan, based upon various "indices". Unlike a fixed rate mortgage, where the interest rate remains constant throughout, the changes on an adjustable rate mortgage occurs periodically, making the monthly payments go up or down in accordance.

When buying a new house and going in for a mortgage loan, you need to do a lot of research so that you make an absolutely correct decision in the end. This will be one of the most significant decisions of your life.