An adjustable-rate mortgage is typically a loan through
a bank that has a varying interest rate.
For example, the mortgage could be called a 5/10 ARM which means a 5 year fixed rate followed by 10 years of a variable rate for a total of a 15 year mortgage.
The advantage of an adjustable-rate mortgage is that the early years tend to be at lower interest rates because they entice you to get it knowing that you will pay more interest later on.
<span>As its name implies, an adjustable rate mortgage (ARM) is one in which the rate changes (adjusts) on a specified schedule after an initial “fixed” period. An ARM is considered riskier than a fixed rate mortgage because your payment may change significantly. plz mark me as brainliest im really trying to earn a new rank :(</span>