Option ARM  Mortgage Glossary

Mortgage Glossary

Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:



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With an option ARM the borrower has the flexibility to alter their monthly payments at times so that the payments can be lower for a specific period. These are commonly used by borrowers who require flexibility such as those with young families. Borrowers on this type of mortgage should be careful to ensure that they do not delay payments to such an extent that the payments towards the end of the term of the mortgage are unmanageably high.

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Mortgage Glossary

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