Definitions for "Convertible Adjustable Rate Mortgage"
Keywords:  frm, fixed, adjustable, arm, specified
An adjustable rate mortgage loan under which the borrower is given the option of converting their ARM to a fixed rate mortgage (FRM) within a specified period.
An adjustable rate loan that may convert to a fixed rate under certain terms and conditions.
An adjustable rate mortgage that, if certain conditions are met, can be converted to a fixed-rate mortgage.