An adjustable rate mortgage (commonly known as an ARM), also known as a variable rate mortgage or floating rate mortgage is a mortgage loan where the interest rate on the note is periodically adjusted based on an index. This is done to ensure a constant and steady margin for the lender, whose own cost of funding will usually be related to an index. This can be extremely attractive to the individual that is planning on selling the home in short period of time or betting the mortgage rates will go down. People with bad credit looking for a mortgage loan for people with bad credit might find it easier to qualify for an Adjustable Rate Mortgage. The article explores and provides the understanding of this type of mortgage.
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