Two-step mortgage

An Adjustable rate mortgage which has one Interest rate for the first part of the Mortgage (usually five or seven years), and a different Interest rate for the Remainder of the mortgage.

Related Terms: 7 Adjustable rate, Adjustable Rate Mortgage, Interest, Interest rate, Mortgage, Remainder, Rent

Other Related Pages: Category: Real_Estate Starting With: T

Additional Related Terms: Allowance for depreciation, Adjustable rate, Above par, Accrual of discount, Accrued interest, Amortization of premium, At par, All or any part, At best, At call