# Variable Rate Mortgage

## Variable Rate Mortgage,

### Variable Rate Mortgage: What is the Meaning of Variable Rate Mortgage?

• Variable Rate Mortgage refers to A home loan with a variable interest rate is a type of home loan that does not have a fixed interest rate. In contrast, interest payments are adjusted with rates above a certain standard or benchmark (such as Labor + 2 points). Lenders can offer lenders lower interest rates over the life of a mortgage. You can also offer an Adjusted Rate Hybrid Mortgage (ARM), which has a fixed initial period followed by a variable rate which is then recalculated from time to time.

• A floating rate mortgage uses a floating interest rate for part or all of the loan period, rather than a fixed rate.
• Floating rates basically use index rates such as labor or federal funds rates and then add additional credit spreads.
• The most common example is an adjusted rate mortgage, or ARM, which usually has an initial fixed interest rate of several years, followed by a regularly adjusted interest rate on the remainder of the loan.

### Literal Meanings of Variable Rate Mortgage

#### Variable:

##### Meanings of Variable:
1. An element, property or element that may vary or change.

2. It is contradictory or a static pattern that changes.

3. It can be edited or customized.

##### Sentences of Variable
1. There are many variables involved in making meaningful predictions

2. The quality of hospital food varies greatly

3. The drill has variable speed

##### Synonyms of Variable

unsteady, capricious, protean, unfixed, shifting, uneven, unpredictable, varying, fitful, temperamental, inconstant, undependable, vacillating, volatile, fluid, chameleonic, floating, irregular, inconsistent, kaleidoscopic, unreliable

#### Rate:

##### Meanings of Rate:
1. Set a pattern or value for a particular scale (object).

2. Think of it as a particular quality, standard or area.

3. A measure, quantity or frequency that is usually measured in relation to another quantity or unit of measure.

4. Scolding (someone) in anger

##### Sentences of Rate
1. They were asked to assess their abilities in various driving exercises.

2. This event was considered a great success.

3. Promotion price

##### Synonyms of Rate

fare, amount, deem to be, tariff, appraise, adjudge, figure, price, calculate, hire, consider to be, weigh up, evaluate, think to be, cost, compute, value, outlay, estimate, gauge

#### Mortgage:

##### Meanings of Mortgage:
1. Transfer (assets) to lenders as collateral.

2. A legal agreement in which a bank or other lender borrows in exchange for interest to take over the borrower, provided the transfer of ownership is canceled after the loan is repaid.

##### Sentences of Mortgage
1. The farm is in mortgage

2. I deposited one lakh cash and mortgaged the rest

##### Synonyms of Mortgage

mortgage, guarantee, put up as collateral, credit, pawn, advance