A provision in an ARM that allows you to change the mortgage to a fixed-rate loan, usually after the first adjustment period.
A provision in some ARMs that allows the ARM to be changed to a fixed-rate loan at some point during the term. The conversion is usually allowed at the end of the first adjustment period. eed of Trust/Mortgage A written legal document which transfers ownership of real estate property from one party to another.
An optional provision of an Adjustable Rate Mortgage allowing the rate to become fixed at a given point during the loan's term, usually at the end of the first adjustment period. This feature may require additional cost, depending on the lender.
Clause in an ARM permitting conversion from an adjustable to a fixed-rate loan.
A provision in some ARM loans which allow the borrower to change from am ARM to a fixed rate loan at some point during the terms. This conversion may have a cost.
This provision (available in some ARM's) allows the buyer to change the loan to a fixed rate. The new rate is normally set at the prevalent interest rate for fixed-rate mortgages. This feature may cost extra. Deed - A written document that transfers ownership of real property from seller to buyer.
Refers to a mortgage loan provision. It defines and allows an Adjustable Rate Mortgage (ARM) to be converted into a Fixed Rate Mortgage.
A provision in some ARMs that allows changing an ARM to a fixed-rate loan, usually after the first adjustment period. The new fixed rate is set at based on a formula tied to current rates, and there may be a charge for the conversion feature.
A provision in an ARM allowing the loan to be converted to a fixed-rate at some point during the term. Usually conversion is allowed at the end of the first adjustment period. The conversion feature may cost extra.
A statement declaring at what point an ARM can be converted into a conventional mortgage.
A provision in some adjustable-rate mortgages that allows you to change the ARM to a fixed-rate mortgage.
A provision in some ARMs that enables you to change an ARM to a fixed-rate loan. The new fixed rate is generally set at the prevailing interest rate for fixed-rate mortgages. There is normally a conversion fee.
An additional provision in some Adjustable rate Mortgages wherein the obligor is allowed to convert the adjustable mortgage to a fixed rate. A nominal fee may be charged at the time of conversion.
A feature in certain ARMs that gives you the option to convert the variable rate loan to a fixed-rate loan, usually after the first adjustment period. The new fixed rate will be set at current rates and there could be a fee for the conversion feature.
A provision that allows converting an ARM to a fixed rate loan after a specified interval.
A provision in some loans that enables you to change an ARM to a fixed rate loan, usually after the first adjustment period. This may require additional fees.
A provision in some ARM s allowing a Mortgagor to change the ARM to a fixed-rate loan at some point during the term . Usually the conversion is allowed at the end of the first adjustment period. At the time of the conversion, the new fixed rate is generally set at one of the rate then prevailing for fixed-rate mortgages.
A provision in some ARMs that enables home buyers to change an ARM to a fixed rate loan, usually after the first adjustment period. The new fixed rate is generally set at the prevailing interest rate for fixed rate mortgages. This conversion feature may cost extra.
A clause which allows and Adjustable Rate Mortgage to be converted into a fixed-rate loan at some point.
A provision in some ARMs that allows you to change an ARM to a fixed-rate loan, usually after the first adjustment period. The new fixed rate will be set at current rates, and there may be a charge for the conversion feature.
A provision in some ARMs that allows you to change the ARM to a fixed-rate loan at some point during the term. Usually conversion is allowed at the end of the first adjustment period. At the time of the conversion, the new fixed rate is generally set at one of the rates then prevailing for fixed rate mortgages. The conversion feature may be available at extra cost.
A provision in some ARMS, (Adjustable Rate Mortgage) that allows you to change the ARM to a fixed-rate loan at some point during the loan term.
A provision in some Adjustable Rate Mortgages ("ARM") that allows a borrower to change the ARM to a fixed-rate loan at some point during the term.
A provision in a variable rate mortgage ( adjustable rate mortgage ) which allows the borrow to change the mortgage to a fixed rate mortgage upon the occurrence of certain events.
A condition in an adjustable rate mortgage (ARM) that allows the loan to be converted to a fixed-rate mortgage at some point during the term.
A provision that may appear in an adjustable-rate loan agreement allowing the loan to be changed to a fixed-interest rate loan, usually for an additional charge.
The right of a borrower to convert an adjustable or balloon loan into a fixed loan. The Conversion Option column on Monstermoving.com balloon tables indicates the right of a borrower to convert this balloon loan. The possible options are as follows... Option Description Not Available Borrower May Not Convert This Loan. Must Requalify Borrower May Convert But Must Requalify. Conversion Fee Applies Auto-Qualify Borrower May Convert And Is Automatically Qualified. Conversion Fee Applies
