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Confused by contract terminology? These interactive tools will help borrowers understand their adjustable-rate mortgages.
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| Adjustable-rate mortgage contract primer |
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Select one of the tabs to
view the contract. Place your mouse over the highlighted
sections of the contract to view an explanation.
To see how the annotated contract was developed,
read this article.
Prime ARM | | Subprime ARM | | Option ARM | | Balloon | | Prepayment penalty |
Source: Equity Now
Explanation:
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TOP MORTGAGE STORIES |
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Mortgages
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
Rates may include points
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Equal Housing Opportunity