What is the Adjustment Interval?

On an adjustable rate mortgage (ARM) loan, the adjustment interval is the period between changes in the interest rate and/or monthly payment.

The adjustment interval typically ranges from three months to ten years, depending on the specific program selected, with six months and one year being the most prevalent.

Some ARM programs have inconsistent adjustment intervals. This is particularly true for home equity loans and lines of credit based on the Prime Rate.

For more information, see also the following entries:

• :Adjustable Rate Mortgage:
• :Credit:
• :Home Equity Loan:
• :Home Equity Line of Credit:
• :Interest:
• :Interest Rate:
• :LIBOR:
• :London InterBank Offered Rate:
• :Monthly Payment:
• :Mortgage Loan:
• eriod:
• rime Rate:
• :Variable Rate Mortgage: