convertible mortgage

Definition of "convertible mortgage"
  1. A type of loan with a flexible interest rate that can be changed to a fixed interest rate at certain times during the loan period
How to use "convertible mortgage" in a sentence
  1. With a convertible mortgage, she secured her first house but was able to lock in a lower fixed rate later.
  2. The bank offered a range of options, including convertible mortgages, to cater to different customer needs.
  3. Despite the higher initial interest rates, the convertible mortgage option appealed to him as he expected rates to fall in the future.

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