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KNOWLEDGE CENTER

Adjustable Rate Mortgages

Adjustable rate mortgages otherwise known as a variable rate mortgages are a mortgage loan where the interest rate on the note is periodically adjusted based on an index.

To insure a profitable loan, the lender bases their rate on an index. Consequently, payments made by the borrower may change over time with the changing index rate.

Adjustable rate mortgages can be aquired by borrowers when unpredictable interest rates make fixed rate loans difficult to obtain. The borrower benefits if the interest rate falls and loses out if interest rates rise.

Adjustable rates transfer the interest rate risk from the lender to the borrower.
 

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ABN AMRO Mortgage HSBC IndiMac Wachovia Washington Mutual Wells Fargo  Chase Manhattan  US Bank  Countrywide

 

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