MLchartDataset catalogue

Adjustable rate mortgage

Term · Law · MLC-T-LAW-000366

A type of home loan where the interest rate is not fixed for the entire term but can change periodically based on an underlying index. The initial interest rate is set for a specific period, after which it adjusts at predetermined intervals. The loan agreement specifies the index, margin, and caps on interest rate changes.

Table 1. Record
IdentifierMLC-T-LAW-000366
FieldLaw
AbbreviationARM
Record as JSON 
{
  "id": "MLC-T-LAW-000366",
  "term": "Adjustable rate mortgage",
  "field": "Law",
  "definition": "A type of home loan where the interest rate is not fixed for the entire term but can change periodically based on an underlying index. The initial interest rate is set for a specific period, after which it adjusts at predetermined intervals. The loan agreement specifies the index, margin, and caps on interest rate changes.",
  "abbreviation": "ARM",
  "url": "https://mlchart.com/terminology/law/adjustable-rate-mortgage/"
}

Record 130 of 5,445 in Law terminology (MLC-0107). Request the full dataset.