Mortgage Dictionary

Select a term from the dropdown text box. The online mortgage dictionary will display a definition, plus links to other related web pages.

Select term:       


With an ARM (also known as a variable-rate mortgage and as an adjustable-rate mortgage), the interest rate and payments are adjusted periodically, potentially as frequently as every month. The purpose of the adjustment is to allow mortgage interest rates to fluctuate with market conditions.

See also:   Adjustable-Rate Mortgage (ARM) | Fixed-Rate Mortgage