Fully Amortized Adjustable Rate Mortgage-
The interest rate remains the same for the initial
three, five, seven, or ten years. In this case,
the loan is fully amortized because monthly payments
are sufficient to payoff the balance at term.
[Fully Amortized ARM is an adjustable-rate mortgage
(ARM) with monthly payments that are sufficient
to pay off the full amount, including the principal
amount and the interest, over the amortization
term.]
