Allows you to convert your adjustable rate mortgage to a fixed rate mortgage for a flat fee during a specific time frame.
a fixed-rate mortgage which gives you the same Low-Payment Mortgages Can Take Off Quickly (washingtonpost
a fixed-rate mortgage which gives you the same National Association of Home Builders A conventional mortgage is one that is not insured or guaranteed by the on your pocketbook at first than a fixed-rate mortgage for the same amount
a fixed-rate mortgage which gives you the same security as
a mortgage that gives the obligor the right at one or more times during the term of the mortgage to elect to convert from one interest rate to another
an adjustable mortgage (ARM) that allows the borrower to convert to a fixed rate mortgage during a specified period of time
An adjustable rate mortgage where the mortgagor can convert the mortgage to a fixed rate mortgage during a predetermined time period.
A mortgage where a Borrower has a "window" of opportunity to renegotiate the term of the mortgage. This is a very worthwhile feature and should be investigated for persons wishing to wait a while before committing to a long term mortgage. The rates for convertible mortgages are typically 1/2 of 1% less than an "open" mortgage.
An adjustable rate mortgage that can be converted to a fixed-rate mortgage under specified conditions
An adjustable rate mortgage (ARM) that allows a borrower to shift to a fixed-rate mortgage during a designated period.
is an ARM that has the option of being converted to a fixed-rate mortgage at specific times during the life of the loan.
A provision in some adjustable-rate mortgages (ARMs) that allows the borrower to change the ARM to a fixed-rate mortgage at specified timeframes after loan origination.
An adjustable-rate mortgage where the borrower has the option at specified times to change into a fixed-rate mortgage.
A mortgage that you can change from short-term to long-term, depending on your financial needs.
An adjustable rate mortgage (ARM) that allows a borrower to switch to a fixed-rate mortgage at a specified point in the loan term.
An adjustable-rate home loan which the borrower has the option at specified times of changing into a fixed-rate loan.
A mortgage that gives the borrower the flexibility to change from a short-term to a longer-term mortgage if it appears advantageous to do so, most often when interest rates appear to have reached the lowest point possible.
An adjustable-rate mortgage that allows the borrower to convert to a fixed-rate mortgage during the loan.
A short-term mortgage that can at any time be converted into a longer term closed mortgage without penalty.
A type of adjustable-rate mortgage that may be converted to a fixed-rate mortgage at specified intervals during a predetermined time period. In income property lending, a mortgage in which lender-provided funds convert to equity ownership after a predetermined period of time.
This allows you to convert your mortgage to a new one of longer term while it is still in effect.
A mortgage that may be changed to another term at any time.
A short term mortgage, usually 6 months or 1 year, that allows a borrower to lock in to a longer term at any time without penalty.
A mortgage that gives the borrower the flexibility to change from a short-term to a longer-term mortgage if it seems advantageous to do so. For example when interest rates appear to have hit bottom.
A short term mortgage, usually six or twelve months, allowing the borrower to switch into a longer term at any time without penalty. There are several different variations to the convertible mortgage.
A fixed-rate mortgage which offers the same security as a closed mortgage, but which can be converted to a longer, closed mortgage at any time without penalty.
A convertible mortgage is a mortgage that the borrower can convert from a short term to a longer term according to their financial needs.
A financing instrument allowing a change from an adjustable-rate to a fixed-rate mortgage.
An adjustable rate mortgage (ARM) that allows a borrower to switch to a fixed-rate mortgage during a specified period. convertibility option The ability to convert all or part of a home equity line of credit to a fixed rate loan. A minimum conversion amount often applies, as may other conversion requirements.
An adjustable rate mortgage where the borrower can convert the loan into a fixed-rate mortgage during a predetermined period of time. Usually there is a fee associated with the conversion.