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


Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.


See adjustable-rate mortgage.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.


See Adjustable Rate Mortgage.

The Mortgage Encyclopedia. Copyright © 2004 by Jack Guttentag. Used with permission of The McGraw-Hill Companies, Inc.
References in periodicals archive ?
This saves several trips of little armloads or leather slingloads on our old arthritic bodies, and I have the wheelbarrow maneuvering down to a fine art.
I did feel sorry for the occupational therapists; they both had armloads of gadgets (assistive devices) for quads (I mean tets).
Cllr Ramsey has also revealed that the couple received armloads of gifts for their new baby.
Stressed holiday shoppers lugging armloads of bags trudge from store to store and mall to mall, from Grand Junction to Greeley.
Extended, its coiled internal skeleton creates a sturdy container capable of holding armloads of vegetables, lawn clippings or weeds.
Enter the BARC scientists, with their armloads of melons, gourds, and other natural products.
Outside the home, UD helps truck drivers to deliver goods, students staggering under armloads of books to get to class, or my attendant to deal with my shopping cart full of groceries.
That overcast Sunday morning, I was also stopped in the street several times by young girls with armloads of flowers wanting directions to Kensington Palace.
They arrive separately, and while some gang members distract the sales staff, the others make off with armloads of merchandise.
Sutherland's daughter, Kathy Linehan, remembers that, "reading was the big occupation of the house" with weekly visits to the public library to return and check out armloads of books (K.
He remembered his father and his older brothers coming back from the fields in the summer with armloads of thin bamboo stalks.
And in the days before malling became a verb, Saturday afternoons often found us returning armloads of overdue library books.