Adjustable Mortgage Loans

Concept of Adjustable Mortgage Loans (aml’s) in the context of Real Property

A short definition of Adjustable Mortgage Loans (aml’s): Mortgage loans under which the interest rate is periodically adjusted to more closely coincide with current rates. The amounts and times of adjustment are agreed to at the inception of the loan. Also called: Adjustable Rate Loans, Adjustable Rate Mortgages (ARM’s), Flexible Rate Loans, Variable Rate Loans. See also: Indexing, Rate Index.

Concept of Adjustable Mortgage Loans (aml’s) in the context of Real Property

A short definition of Adjustable Mortgage Loans (aml’s): Mortgage loans under which the interest rate is periodically adjusted to more closely coincide with current rates. The amounts and times of adjustment are agreed to at the inception of the loan. Also called: Adjustable Rate Loans, Adjustable Rate Mortgages (ARM’s), Flexible Rate Loans, Variable Rate Loans. See also: Indexing, Rate Index.