The phrase "adjustable rate loan" is correct and usable in written English.
You can use it when discussing types of loans, particularly in the context of mortgages or financial products that have variable interest rates.
Example: "Many homebuyers consider an adjustable rate loan for its lower initial interest rates compared to fixed-rate loans."
Alternatives: "variable rate mortgage" or "flexible interest loan."
Ultimately, he obtained a five-year adjustable rate loan at 4.25percentt for his house in Washington and a 10-year adjustable rate loan at 4.5percentt for his house in East Haddam, Conn.
Her adjustable rate loan, which she took out in late 1998 at a 10percentt interest rate — to refinance a previous loan — has risen to more than 12percentt.
The bill would provide $150 million to expand counseling for borrowers to prevent foreclosure and would establish stricter disclosure rules to require lenders to make plain the maximum monthly payment for a borrower with an adjustable rate loan.
And when the loan being applied for is an adjustable rate loan, he said, the A.P.R. is basically useless because there is no way of knowing what the new rate will be after the initial interest rate period expires.
"We have been using an adjustable rate loan option while rates have stayed low, in hopes of re-establishing credit so that if the new mortgage is paid on time, the borrower can come back to us after another year and we see if we can further improve the situation".
Do they want a fixed rate or an adjustable rate loan?
The rate on five-year adjustable rate loans jumped to 5.58percentt, from 5.34percentt.
For instance, Pentagon Federal Credit Union, one of the nation's largest, focuses on 5-5 adjustable rate loans.
The $100 billion in federal tax rebates that were sent out in the spring and early summer probably helped some families pay their bills, while efforts to modify adjustable rate loans may have helped others.
As she juggled the Stamford and Redding properties, Ms. Sotire fell into a cycle of refinancing to get cash to stay afloat and avoid the steep increases of adjustable rate loans.
One major problem in housing is that the administration's signature foreclosure-prevention program, the Home Affordable Modification Program, was meant to help homeowners with adjustable rate loans in which payments spiked upward.
