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Variable Rate Mortgage (VRM) Financial Glossary

What is it? 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.

Finance Term Definition Added By: Nicole

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We hope you now understand the meaning of Variable Rate Mortgage (VRM). If you need any more information on this term, please don't hesitate to contact us.

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