ARM

(redirected from kept at arm's length)
Also found in: Dictionary, Thesaurus, Medical, Legal, Idioms, Encyclopedia.
Related to kept at arm's length: hold at arm's length

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 ?
The DTP leader, whose party has in the past been kept at arm's length by other parties in parliament, expressed his support for the reform process.
He is a creepy young man whose activities are horrifying, yet we are kept at arm's length.
Twin tortures kept at arm's length by the illusion of a caring wife still by his side.
Officials tried to help the Longbridge car manufacturer, but they were kept at arm's length by Rover's directors.
Wrexham's striking double-act of Hector Sam and Chris Llewellyn were kept at arm's length too - but left-wing-back Gary Holt did breach Vale's well-marshalled rearguard on 72 minutes, equalising Steve Brooker's opener seven minutes earlier.
Men, including a somewhat over-wrought ex-boyfriend played by Kevin Bacon, are kept at arm's length.
BEING asked to spend an evening At Home With The Braithwaites is an invite to be kept at arm's length.
OK, so Gerard Houllier's men were kept at arm's length in midweek, but let's not forget that Valencia are the champions of the best league in Europe.
But Diller is happy to be kept at arm's length, and industry mavens say if he has his way, that's where he'll remain.
The reader is mostly kept at arm's length when it comes to Cartwright's personal life, though the details she does offer up can be amusing (her tooling around California in a pink Miata) and poignant (her eulogy to comedian Phil Hartman).
Observers believe the Christian Coalition and Robertson's religious ministries were kept at arm's length so that nervous donors could claim they were not supporting Robertson's extreme political and religious agenda.
Although he was generally kept at arm's length by other Reagan advisers, Bauer was a proponent of the 1982 Family Protection Act, which proposed to deny federal funding to any "entity which presents homosexuality, male or female, as an alternative lifestyle or suggests that it can be an acceptable lifestyle.