mortgage

What is a convertible ARM?

 

What is a convertible ARM?

The Bankrate.com financial term of the day is: "Convertible ARM."

A convertible car can be pretty sweet, and the same is true of a convertible ARM. It's an adjustable-rate mortgage, or ARM comes with a way to lock in the interest rate, so you don't have to worry about the loan adjusting and pushing your rate higher.

Take a ride on a convertible ARM, and you might turn your unpredictable, movable interest rate into a fixed rate.

To shop for a great mortgage rate, visit the Mortgages section at Bankrate.com.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
advertisement
advertisement

Blog

Tara Baukus Mello

Tires are tops for safe driving

The season for road trips is here. Before you pack up the family, the car and get behind the wheel, read these 6 tips for safe driving.  ... Read more


Connect with us