An adjustable rate mortgage which has one interest rate for the first part of the mortgage (usually five or seven years), and a different interest rate for the remainder of the mortgage.
Related information about two-step mortgage:
- Two-Step Mortgage Definition | Investopedia
A mortgage that offers an initial fixed-interest rate for a period of time (usually 5 or 7 years) after which, at a predetermined date, the interest rate adjusts ...
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Jun 22, 2012 ... A mortgage in which the borrower receives a below-market interest rate for a specified number of years (most often seven or 10), and then ...
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Free, online mortgage calculator creates enhanced amortization table. In addition to principal, interest, and unpaid loan balance, the amortization table shows ...
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Definition of two-step mortgage: An adjustable rate mortgage which has one interest rate for the first part of the mortgage (usually five or seven years), and a ...
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Definition of two step mortgage: Long-term (usually 30 years) mortgage in which the borrower is facilitated with a below-market interest rate for a certain period ...
- What is a Two-Step Mortgage? - wiseGEEK
A two-step mortgage is one that has one interest rate for the first part of the mortgage term and a second rate for the other part of the mortgage term. The length of ...
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There are various options in the mortgage market like Jumbo mortgage, two-step mortgage, ballon and assumable mortgage. Find out which one suits your ...
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Those borrowers who make the decision to take a two-step mortgage are taking ... Many borrowers who take the two-step mortgage have plans of refinancing or ...