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Resources > Glossary > Adjustment Interval

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Adjustment Interval

Phonetics: ad·just·ment in·ter·val    \'ə-'jəs(t)-mənt\    \'in-tə-vəl\

Function: noun

Definition 1:
On an adjustable rate mortgage, the time between changes in the interest rate and/or monthly payment, typically one, three, or five years. If your adjustment interval is one year, then changes to your rate and monthly payment would happen once per year.

Thesaurus / Related Terms
Adjustable Rate Note
Adjustable Rate Rider
Adjustment Date
Adjustable Rate Mortgage