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Residental Finance Glossary Definition (English)
Variable rate mortgage Defined
The following is in context to Residental Finance, because it's common for a single word to have multiple meanings you will find additional research links near the bottom of the page.
"A long-term mortgage loan applied to residential properties under which the interest rate may be adjusted on a 6-month basis over the term of the loan. Rate increases are restricted to no more than 1/2 point per year and 2 1/2 points over the term."
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Expert Dictionary: Variable rate mortgage
Dictionary: Variable rate mortgage
