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Adjustment Frequency |
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Adjustment Frequency How often the interest rate changes or resets on an adjustable-rate mortgage. Different adjustable-rate mortgages have different adjustment frequencies. Typically, the adjustment frequency is once a year, but it can be as often as once a month or as infrequent as once every five years. Notes: The lower the rate-adjustment frequency, the lower the financial risk for the borrower. To compensate for lower interest rates in the future and thus lower margins, the lender will usually expect the borrower to pay a higher initial interest rate before the first reset date. |
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? Mentioned in | ? References in periodicals archive | |
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ARM borrowers are advised to query
lenders about the rate index used, adjustment frequency, negative
amortization, payment caps, lender's margin and conversion to a fixed
rate.
ARM borrowers are advised to query lenders about the rate index
used, adjustment frequency, negative amortization, payments caps,
lender's margin and conversion to a fixed rate. |
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