ARM

(redirected from armload)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.

ARM

ARM

GOST 7.67 Latin three-letter geocode for Armenia. The code is used for transactions to and from Armenian bank accounts and for international shipping to Armenia. As with all GOST 7.67 codes, it is used primarily in Cyrillic alphabets.

Adjustable rate mortgage (ARM).

An adjustable rate mortgage is a long-term loan you use to finance a real estate purchase, typically a home.

Unlike a fixed-rate mortgage, where the interest rate remains the same for the term of the loan, the interest rate on an ARM is adjusted, or changed, during its term.

The initial rate on an ARM is usually lower than the rate on a fixed-rate mortgage for the same term, which means it may be easier to qualify for an ARM. You take the risk, however, that interest rates may rise, increasing the cost of your mortgage. Of course, it's also possible that the rates may drop, decreasing your payments.

The rate adjustments, which are based on changes in one of the publicly reported indexes that reflect market rates, occur at preset times, usually once a year but sometimes less often. Typically, rate changes on ARMs are capped both annually and over the term of the loan, which helps protect you in the case of a rapid or sustained increase in market rates.

However, certain ARMs allow negative amortization, which means additional interest could accumulate on the outstanding balance if market rates rise higher than the cap. That interest would be due when the loan matured or if you want to prepay.

ARM

See adjustable-rate mortgage.

ARM

See Adjustable Rate Mortgage.

References in periodicals archive ?
Find ideas in these pages, then gather an armload of blazing branches or bring home a trunkful of gourds or pumpkins for decorating.
Surely our enemies, if only armed with a copy of this "15-cent" public map and an armload of discarded matchbook covers knew far more about us than we ever knew about them.
I yanked back on the cyclic and pulled an armload of collective.
As many a book collector knows, few things can match capping off an afternoon of browsing at the mall finding an armload of volumes--glossy gift editions, last year's bestsellers or obscure-but-inviting titles--marked down to as little as $1 or $2.
Intrigued with her balancing act, I waited to see her emerge from the cleaners with what turned out to be a first armload of clean clothing on hangers draped over the toddler-free arm.
If being bright, loud and enthusiastic won awards, then documentary maker Julian Henriques's feature debut would be scooping them up by the armload.
Imagine a throng of shoppers mobbing a sales clerk as he brings an armload of name-brand shoes marked down 70-80 percent off retail.
And under the kitchen light discovered that it was an armload of wood?
She always came to every class with an armload of books to give to students to read, review, and report upon.
One day in October I carried an armload of small tree limbs into the recreation area where I had twelve or so old men who were my charges.
You start with and armload of paper - articles produced with several different word processors and printers; graphs generated on a PC, sent to a pen plotter, and reduced on a photocopier; big tables crunched out from mainframe to a laser printer.
Meanwhile, the sense of possibility and peace as you settle into a chair there, or tote your latest armload out the door, aren't modern innovations, but remain what's most marvelous about any trip to the local library.