What is another word for adjustable-rate mortgage?
Pronunciation: [ɐd͡ʒˈʌstəbə͡lɹˈe͡ɪt mˈɔːɡɪd͡ʒ] (IPA) 
An adjustable-rate mortgage (ARM) is a type of home loan in which the interest rate can change over time based on changes in the market. Some synonyms for this type of mortgage include variable-rate mortgage, floating-rate mortgage, and adjustable mortgage. These terms all refer to loans that have an interest rate that can change based on economic conditions. Other variations of adjustable-rate mortgages include hybrid ARM, which starts with a fixed interest rate and then becomes adjustable after a certain period of time, and option ARM, which allows the borrower to choose between several different payment options each month. It's important for borrowers to understand the terms and conditions of their mortgage agreement, whether it is adjustable or not, in order to make informed decisions about their financial future.
