Resources > Glossary > Adjustable Rate Rider

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Adjustable Rate Rider

Phonetics: ad·just·a·ble rate rid·er    \ə-'jəs-tə-bəl\   \'rāt\   \'rīdər\

Definition 1:
The Adjustable Rate Rider document calculates the interest rate and monthly payments the borrower must make with an Adjustable Rate Mortgage. The interest rate would be based on the US Treasury Index at any given point in time.