Mortgage Glossary
Fixed Period
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
The fixed period is the initial span of an adjustable-rate mortgage during which the rate stays constant before adjustments begin.
What Fixed Period means
On a 7/6 ARM, the fixed period is seven years. A longer fixed period gives more stability but usually a slightly higher starting rate than a shorter one.
Florida example
A Florida buyer planning to move within a decade picks a 10/6 ARM for its ten-year fixed period, capturing a lower-than-fixed rate while avoiding adjustment risk during their expected stay.
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