mortgage & home loan refinance | vase at home

Conversion Clause

Conversion Clause

In mortgage terminology a conversion clause allows a borrower to convert an adjustable rate mortgage (ARM) into a fixed-rate mortgage, during the term of the loan under predetermined conditions. Conversions often take place at the end of the first adjustment period.  A borrower may pay a fee to include a conversion clause in an ARM.

0 Comments
1500 characters remaining
loading...