Fixed-Rate Mortgage

(redirected from FRM)
Also found in: Acronyms.

Fixed-Rate Mortgage

A mortgage on real estate with an interest rate that does not change over the life of the loan. As a result, payments on a fixed-rate mortgage do not change. This carries the least risk for the borrower, but it can make it more difficult to qualify for a mortgage in the first place. See also: Adjustable-rate mortgage.

Fixed-rate mortgage.

A fixed-rate mortgage is a long-term loan that you use to finance a real estate purchase, typically a home.

Your borrowing costs and monthly payments remain the same for the term of the loan, no matter what happens to market interest rates.

This predetermined expense is one of a fixed-rate loan's most attractive features, since you always know exactly what your mortgage will cost you.

If interest rates rise, a fixed-rate mortgage works in your favor. But if market rates drop, you have to refinance to get a lower rate and reduce your mortgage costs.

Typical terms for a fixed-rate mortgage are 15, 20, or 30 years, though you may be able to arrange a different length. With a hybrid mortgage, which begins as a fixed-rate loan and converts to an adjustable rate, the fixed-term portion is often seven or ten years.

fixed-rate mortgage

See fixed-rate loan.

Fixed-Rate Mortgage (FRM)

A mortgage on which the interest rate and the monthly mortgage payment remain unchanged throughout the life of the mortgage.

References in periodicals archive ?
The FRM program has also seen an increase in employers encouraging their employees to obtain the FRM designation as well as hiring managers requiring it for senior level jobs.
For series 1997-6 FRM pool, the B-3 class has $708,489 or 3.
This partnership will enable FRM candidates to see the practical application of the exam curriculum.
But Gallagher had at least been briefed on some FRM issues, along with other matters, according to e-mail and testimony by Dennis Maloney, point man on FRM for Gallagher's law firm, Concord-based Gallagher Callahan & Gartrell.
As part of this commitment, JPMorgan has developed compatible and highly automated administrative and custodial products specifically to serve funds of hedge funds, which are being used by FRM, a leading global player in the market.
FRM has a global platform with the scale, stability and depth of experience to excel in serving sophisticated clients.
It alleges that Hildreth did not preperly recuse himself, failed to notify all staff about his conflict of interest and did not keep up to date on his brother's financial status with FRM.
Dunning's responsibilities will include business and investment management for FRM.
The ITM FRM solution provides a level of transparency into IT financials unavailable due to current manual IT financial processes," said Ken Coleman, chairman and CEO of ITM Software.
FRM not only had offices in 13 states, but similar schemes are being investigated all over the country, Long said.
5% stake in FRM Holdings Limited, with the potential for STB to raise its stake to a maximum 10% in the future.
For those who just parachuted in from Jupiter last week, FRM is a Meredith company that funneled hard money lent by individuals to fund particular commercial projects--usually construction loans for residential developments.