Add 'What is An Adjustable-Rate Mortgage (ARM)?'

What-is-An-Adjustable-Rate-Mortgage-%28ARM%29%3F.md

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+<br>An adjustable-rate mortgage (ARM) is a kind of variable home loan that sees mortgage payments fluctuate going up or down based on modifications to the loan provider's prime rate. The primary portion of the mortgage stays the same throughout the term, keeping your amortization schedule.<br>
+<br>If the prime rate modifications, the interest part of the home loan will automatically change, changing greater or lower based on whether rates have increased or reduced. This means you could right away face greater home loan payments if rate of interest increase and lower payments if rates reduce.<br>
+<br>ARM vs VRM: Key Differences<br>
+<br>ARM and VRMs share some similarities: when rates of interest alter, so will the home loan payment's interest part. However, the essential differences lie in how the payments are structured.<br>
+<br>With both VRMs and ARMs, the rate of interest will change when the prime rate modifications