In the case of an adjustable-rate mortgage (ARM), the loan, at some future specified time, can be changed to a conventional fixed-rate loan. This recently has become the most popular option in adjustable loans.

A loan which converts into equity at a later date, at specific rates or in response to particular events.

Some ARM Color loans include a provision that allows it to convert to a fixed rate mortgage at specific times, usually from the end of the first through the fifth years. There is usually an additional fee, $300-$500, to convert it.

Borrower can change to a fixed rate any time during the life of an adjustable-rate loan.

An adjustable-rate loan that the borrower can convert to fixed-rate at any time during the life of the loan.