Definitions for "Adjustment period"
Keywords:  elapses, arm, six, once, dictates
The period between one rate change and the next on an adjustable rate mortgage is called the “adjustment period.” For example, a loan with an adjustment period of one year is called a one-year ARM, and the interest rate can change once every year.
With most ARMs, the interest rate and monthly payment change every year, every three years, or every five years. However, some ARMs have more frequent interest and payment changes. The period between one rate change and the next is called the adjustment period. So, a loan with an adjustment period of one year is called a one-year ARM, and the interest rate can change once every year.
The period that elapses between the adjustment dates for an adjustable rate loan, typically six months or one year.
Keywords:  spelled, writing, agrees, buy, signed
Agreement of Sale A.K.A. Purchase Agreement or Sales Agreement. Contract in which a seller agrees to sell and a buyer agrees to buy, under certain specific terms and conditions spelled out in writing and signed by both parties.
Keywords:  interval, see
See Adjustment Interval.