Payment Adjustment Periods are typically 1, 3 or 5 years and are defined as the periods between payment adjustments on adjustable rate mortgages.
The length of time, typically six months to a year, between changes to the AML borrower's P&I payment.
The length of time (typically a year) between changes to the borrower's P&I (Principal & Interest) payment.
This is the time frame between payment adjustments made on Adjustable Rate Mortgages and a usual time frame is one, three, or five years. back