Option Adjustable-Rate Mortgage (Option ARM)
Option Adjustable-Rate Mortgage (Option ARM),
How Do You Define Option Adjustable-Rate Mortgage (Option ARM)?
An Optional Adjustable Rate Mortgage (ARM) is a type of ARM mortgage in which the borrower has several options as to how the lender will be repaid. In addition to being able to pay the same interest and principal as a traditional mortgage, the ARM option also offers an alternative payment option, where the credit recipient can make a very small payment by paying only interest or a minimum.
- The ARM option is a variable mortgage variable that allows the borrower to choose from a variety of payment options each month.
- This option is usually 30 years full payment, 15 years full rebate, interest only, or minimum payment which does not include monthly interest.
- To avoid a significant increase in debt, borrowers should carefully choose the payment structure for the ARM option.
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Literal Meanings of Option Adjustable-Rate Mortgage (Option ARM)
Option:
Meanings of Option:
Anything that exists or can be selected.
Buying or selling options.
Sentences of Option
Your second script will be selected when you read it.
Synonyms of Option
freedom of choice, course of action, possibility, choice, alternative, bet, right to choose, power to choose, recourse
Adjustable:
Sentences of Adjustable
The car has fully adjustable seats and steering wheel.
Synonyms of Adjustable
movable, variable, accommodating, multiway, adaptable, convertible, modifiable, versatile, mobile, alterable
Rate:
Meanings of Rate:
A measure, quantity or frequency that is usually measured in relation to another quantity or measure.
A fixed price is paid or charged for something.
Set a pattern or value for a specific scale (object).
Think of it as a special quality or standard.
Correct spelling
Soak (linen or linen) in water to soften it.
Sentences of Rate
The island has one of the lowest crime rates in the world.
Minimum hourly rate 40 3.40
They were asked to evaluate their skills in various driving techniques.
Atkinson called him the best defender in Europe.
Judging this young man for his disrespect.
Cannabis was removed and used as ■■■■ to make clothes.
Synonyms of Rate
judge, evaluate, count, classify, calculate, position, rank, compute, outlay, amount, adjudge, categorize, assess, place, payment, put a value on, find to be, deem to be, hire, regard
Mortgage:
Meanings of Mortgage:
A legal arrangement under which banks, mortgage lenders, etc., lend at interest for the ownership of the lender's property, provided that the transfer of ownership is terminated upon payment of the loan.
Assign (property) to lenders as collateral for loans.
Sentences of Mortgage
I deposited one lakh in cash and mortgaged the rest.
The form is mortgaged
ARM:
Meanings of ARM:
Each of the two upper parts of the human body, from the shoulders to the hands.
An object is compared to a shape or an arm, usually something that comes out of a larger frame.
Each line contains an angle.
Delivery or delivery of weapons.
Turn on the detonator (■■■■, missile or other explosive device) so that it can explode.
Sentences of ARM
She held the baby in her arms.
The cables fasten to the steel arm mounted near the top of the tower.
Security forces are equipped with automatic rifles.
The ■■■■ will be safe enough for weapons.
Synonyms of ARM
subdivision, provide, division, extension, section, chapter, provision, wing, upper limb, appendage, satellite, agency, branch, department, offshoot, member, office, issue, fit up, lodge
Option Adjustable-Rate Mortgage (Option ARM),
Option Adjustable-Rate Mortgage (Option ARM): What is the Meaning of Option Adjustable-Rate Mortgage (Option ARM)?
An adjustable rate mortgage (ARM) option is a type of ARM mortgage in which the borrower has several options to repay the lender. In addition to the ability to pay interest and fees like traditional mortgages, the ARM option also offers an alternative payment option, where the credit recipient can make very small payments through simple interest payments or minimum payments.
- The ARM option is a type of variable rate mortgage that allows the borrower to choose from a variety of payment options each month.
- Typically, these options are 30-year principal, 15-year principal, interest-only payments, or minimum payments that do not include monthly interest.
- To avoid a significant increase in debt, lenders should carefully choose the payment structure for the ARM option.
Literal Meanings of Option Adjustable-Rate Mortgage (Option ARM)
Option:
Sentences of Option
Your second script will be selected while you read it.
Rate:
Meanings of Rate:
A fixed price was paid or received for something.
Soak it in water (linen or linen) to soften it.
Sentences of Rate
They were asked to review their skills in various driving tricks.
Deciding to disrespect this young man
Synonyms of Rate
figure, levy, grade, price, consider to be, tax, think to be, allowance, appraise, judge to be, charge, remuneration, reckon to be, hold to be, wage, esteem, account, fee, mark down as, toll
Mortgage:
Meanings of Mortgage:
Legal arrangements including banks, mortgage lenders, etc. Borrowing money at interest in exchange for allotment of property to the debtor, provided that the transfer of property is completed after the repayment of the loan.
Assignment (property) to lenders as collateral for loans.
ARM:
Meanings of ARM:
Anything that compares to an arm in shape or function, usually something that comes out of a larger frame.
Turn on the detonator (■■■■, missile or other explosive device) to detonate.
Sentences of ARM
The cables connect the ■■■■ to the steel arm mounted near the top of the tower.
The ■■■■ would be safe enough to be armed.
Synonyms of ARM
rig out, bureau, forelimb, outfit, fit out, stock, sector, supply, accoutre, equip, furnish, detachment, gird
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