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TRUSTDale Tip of the Day: *Mortgage Terminology
On an adjustable rate mortgage the time between changes in the interest rate and/or monthly payment typically one three or five years depending on the index.
The period elapsing between adjustment dates for an adjustable rate mortgage (ARM)
An analysis of a buyer liabilities and available funds and considers the type of mortgage you plan to use the area where you want to purchase a home and the closing costs that are likely.