convertible ARM
convertible ARM
An adjustable-rate mortgage loan that the borrower may convert to a fixed-interest rate during a predetermined time period, at an interest rate calculated according to a formula set out in the note.
| 单词 | convertible arm |
| 释义 | convertible ARMconvertible ARMAn adjustable-rate mortgage loan that the borrower may convert to a fixed-interest rate during a predetermined time period, at an interest rate calculated according to a formula set out in the note. |
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