hybrid adjustable rate mortgage

Definition of "hybrid adjustable rate mortgage"
  1. A mortgage that begins with a fixed interest rate for a specified period, but can change after this term ends
How to use "hybrid adjustable rate mortgage" in a sentence
  1. After five years, their hybrid adjustable rate mortgage adjusted to a higher interest rate.
  2. The loan officer suggested they consider a hybrid adjustable rate mortgage for their unique financial situation.
  3. Before signing for the hybrid adjustable rate mortgage, they thoroughly researched the potential rate changes.
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