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Home Purchase > Adjustable Rate Mortgage (ARM)

The following information is about Adjustable Rate Mortgage (ARM).

Adjustable Rate Mortgage (ARM) Defined

A mortgage in which the interest rate is adjusted periodically based on a preselected index. Also sometimes known as the renegotiable rate mortgage, the variable rate mortgage or the Canadian rollover mortgage.
The Canadian rollover is not to be confused with the flying scissors kick, the body slam, or the half-nelson, which are wrestling terms.

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