Mortgage where the interest rate stays the same for a stated period, then changes typically after 5 or 7 years.
a mortgage in which the borrower receives a below market interest rate for a specified number of years ( most often 7-10 ) and then receives a new interest rate adjusted ( with in certain limits) to market conditions at that time. The lender sometimes has the option to call the loan due with 30 days notice at the end of 7-10 years. Also called Super Seven or Premier Mortgage
A form of Adjustable Rate Mortgage with a one-time rate adjustment at the end of either five of seven years. The rate then remains constant for the remaining term.[] Go to: | | | | | | | | | | | | | | | | | | | | | X | Y
A mortgage where the interest rate remains the same for a specific time period and then changes. Adjustable and Fixed rate mortgages participate in this type of program
A form of an Adjustable Rate Mortgage which has a one-time interest rate adjustment at the end of either five of seven years. The rate then remains constant for the remaining life of the loan.
A mortgage which begins with a low fixed rate and changes into an adjustable rate at a specified period. nderwriting The process of evaluating and verifying data submitted for a loan. ariable Rate An interest rate that may increase or decrease (within a range with limits up and down) based on a specified index rate.