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
 

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
 
advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

2 years free charging from Nissan

Nissan is hoping to spur more sales of electric cars with an incentive that offers new buyers two years of free public charging.  ... Read more


Connect with us