MLchartDataset catalogue

ARM

Term · Law · MLC-T-LAW-000559

An Adjustable-Rate Mortgage, which is a type of home loan where the interest rate can change periodically based on an index. The initial interest rate is fixed for a set period, after which it adjusts up or down according to market conditions. The loan agreement specifies the adjustment frequency and any caps on rate changes.

Table 1. Record
IdentifierMLC-T-LAW-000559
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000559",
  "term": "ARM",
  "field": "Law",
  "definition": "An Adjustable-Rate Mortgage, which is a type of home loan where the interest rate can change periodically based on an index. The initial interest rate is fixed for a set period, after which it adjusts up or down according to market conditions. The loan agreement specifies the adjustment frequency and any caps on rate changes.",
  "url": "https://mlchart.com/terminology/law/arm/"
}

Record 343 of 5,445 in Law terminology (MLC-0107). Request the full dataset.