2/28 Adjustable-Rate Mortgage

Business, Legal & Accounting Glossary

Definition: 2/28 Adjustable-Rate Mortgage

2/28 Adjustable-Rate Mortgage

Full Definition of 2/28 Adjustable-Rate Mortgage

Type of adjustable rate mortgage (ARM) with a 2-year fixed interest rate time frame. After the two years have passed, the interest rate on the mortgage will move up or down based on an index plus a margin known as the fully indexed interest rate. These are best used for short term financing needs.

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Modern Language Association (MLA):
2/28 Adjustable-Rate Mortgage. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
December 07, 2021 https://payrollheaven.com/define/2-28-adjustable-rate-mortgage/.
Chicago Manual of Style (CMS):
2/28 Adjustable-Rate Mortgage. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/2-28-adjustable-rate-mortgage/ (accessed: December 07, 2021).
American Psychological Association (APA):
2/28 Adjustable-Rate Mortgage. PayrollHeaven.com. Retrieved December 07, 2021
, from PayrollHeaven.com website: https://payrollheaven.com/define/2-28-adjustable-rate-mortgage/

Definition Sources

Definitions for 2/28 Adjustable-Rate Mortgage are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 19th November, 2021 | 0 Views.