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Adjustable Rate Mortgage
 
An Adjustable Rate Mortgage ARM is a home loan where the interest rate paid adjusts based on the mortgage rate market.

Adjustable rate loans are a good option for home owners who are looking to take advantage of lower initial payments during the early term of the loan. The borrower shares the risk of rate hikes with the Lender.

These loans typicaly have rate height caps that limit the interest rate adjustments.

An alternative to an ARM is Fixed Rate Mortgage where payments stay the same every month during the life of the loan.