Business, Legal & Accounting Glossary
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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This glossary post was last updated: 19th November, 2021 | 0 Views.