Definitions for "Fully amortized ARM"
A loan of equal, regular payments which cause the principal and interest to be completely paid by the due date.
() An adjustable-rate mortgage (ARM) with a monthly payment that is sufficient to amortize the remaining balance, at the interest accrual rate, over the amortization term.
An adjustable-rate mortgage (ARM) with a monthly payment of principal and interest that is sufficient to pay off the entire principal and interest over the term of the loan.