A Hybrid Mortgage combines features of both a fixed-rate mortgage and an adjustable-rate mortgage, typically starting with a fixed interest rate for an initial period followed by an adjustable rate for the remaining period.
A Renegotiated-Rate Mortgage (RRM) is a unique type of mortgage loan where the interest rate is revised at predetermined intervals. It is distinctive because it does not rely on economic indices for its rate adjustments.
A stable mortgage is a hybrid mortgage loan instrument that merges fixed and adjustable rates in the same loan, creating a balanced approach to risk and predictability.
A step loan is a type of adjustable-rate mortgage where the interest rate is adjusted only once during the life of the loan, blending characteristics of both fixed-rate and adjustable-rate loans.
A Two-Step Mortgage, also known as a Hybrid Mortgage, combines an initial fixed interest rate period with an adjustable rate for the remainder of the loan term.
