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 The Mortgage Dictionary is available to assist you with terms you may be unfamiliar with in the mortgage industry. We have provided the most commonly used terms. If you need assistance with a term or any other questions, please contact a loan officer or please send us an email and we'll be happy to assist.

Adjustable Rate Mortgage (ARM)

A loan that allows the interest rate and usually the payment, to adjust periodically during the life of the loan (up or down). Most ARM's start at a lower-than-market interest rate and then adjust based on a prevailing index plus margin.
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