initial interest rate

0.02 sec.

In an adjustable-rate mortgage,the first interest rate charged.

Initial Interest Rate

The interest rate that is fixed for some specified number of months or years at the beginning of the life of an ARM.
See Adjustable Rate Mortgage (ARM)/How the Interest Rate on an ARM Is Determined.

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Adjustable Rate Mortgage
annual percentage rate

hybrid mortgage
Initial Rate Period

Interest Rate Ceiling
life-of-loan cap

reverse mortgage
teaser rate

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