Convertible Adjustable-rate Mortgage at Real Estate Glossary

What is it? A mortgage which starts as an adjustable-rate loan, but allows the borrower to convert the loan to a fixed-rate mortgage during a specified period of time.

Real Estate Definition Added By: Abby

Send To Friends!

If you'd like to send the Convertible Adjustable-rate Mortgage definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of Convertible Adjustable-rate Mortgage. If you need any more information on this term, please don't hesitate to contact us.

Other Similar Real Estate Terms:

Real Estate Term Federal Home Loan Bank System (Fhlb) is Regulates the nations savings and loan associations, much like the Federal Reserve governs the commercial banking industry.

Real Estate Term Aquifer is An underground water-bearing layer of rock, including gravel and sand, that will yield water in usable quantity. Aquifers are sources of water for wells and springs.

Real Estate Term Grace period is A specified amount of time to make a loan payment after its due date without penalty.

Real Estate Term Gingerbread decoration is An intricate, almost lacy, wood trim.

Real Estate Term Real Estate Settlement Procedures Act (Respa) is A federal law, enacted in 1974 and later revised, that ensures that the buyer and seller in a real estate transaction have knowledge of all settlement costs when the purchase of a one-to-four-family residential dwelling is financed by a federally related