variable-rate mortgage

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Adjustable Rate Mortgage

A mortgage with an interest rate that changes periodically. Generally speaking, an adjustable rate mortgage is linked to some major benchmark rate; for example, the interest rate may be stated as "LIBOR + 1%." The mortgage may or may not have a cap on how much the interest rate can rise or fall, or on how often the interest rate may change. Very often, the initial interest rate for an adjustable-rate mortgage is lower than that for a fixed-rate mortgage. This allows more people to qualify for an adjustable-rate mortgage; however, this kind of mortgage can be risky because the interest rate (and therefore the monthly payment) can rise unexpectedly. Indeed the prevalence of ARMs has been blamed for the housing bubble in the mid-2000s and the subsequent recession. See also: Credit Crunch, Teaser Rate.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

variable-rate mortgage (VRM)

A precursor to the modern adjustable-rate home mortgage (ARM), and still used in the area of commercial mortgages.With a variable-rate mortgage,the interest rate on the loan changes whenever the index rate changes. The monthly payments usually change every month, also. Most construction loans are variable-rate mortgages. The ARM differs because the interest rate changes at predetermined intervals, such as once a year or once every 6 months.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
The vertical and horizontal sections near the CPU that appear debossed actually make contact on the underside of the VRM. So these act as passive heatsinks as well.: As for the audio part, we don't see any of the "isolated" section of the motherboard for the audio codec and DAC.
The adapted method showed full concordance of all 21 chemicals with the VRM, i.e., the KeratinoSens[TM] published protocol.
7 shows the resulting torque on the angle of rotation of the rotor when powered from a switch on the VRM of Fig.
For example, HR responds to employee vacancies within an allocated budget, while a VRM can and should be proactive in developing many new roles for volunteers, and doesn't need to wait for funding.
Based on this overview, we then introduce the concept of Value Roadmapping (VRM), which has been developed and tested in seven case studies in technology-based companies.
The GIGABYTE P55 series mark another milestone for innovative GIGABYTE motherboard design, with the introduction of the world's first 24 phase power VRM design featured on the GA-P55-UD6.
The Polopoly Web content-management system will be linked to Milenium Cross Media using a bidirectional interface to provide the content for the eight VRM Web sites.
HBJ Gateley Wareing held a reception at its Edmund Street oTces to mark the return to the Vrm of former partner Bernard Shepherd as a consultant.
The Swiss investment bank had developed its own software, called VRM, as no commercial software company offered tools for the bank to manage the creation and destruction of virtual machines from different suppliers to comply with financial services regulations.
This edition features patent-pending Virtualised Resource Management[TM] (VRM) technology that reduces the complexity of deploying a database application across a shared disk server cluster, and helps customers meet Service Level Agreements (SLAs) for performance and availability, while also reducing hardware and power costs through optimal resource utilisation.
It is agreed that the way to design the PDN is to start with the right voltage regulator module (VRM).