4H Financial Glossary

What is it? Under perform / High risk

Finance Term Definition Added By: Samantha

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Financial Term Variable rate mortgage (VRM) is A long-term mortgage loan applied to residential properties under which the interest rate may be adjusted on a 6-month basis over the term of the loan. Rate increases are restricted to no more than 1/2 point per year and 2 1/2 points over the term.

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