renegotiable-rate mortgage
[ ree-ni-goh-shee-uh-buh l-reyt, -shuh-buh l- ]
/ ˌri nɪˈgoʊ ʃi ə bəlˌreɪt, -ʃə bəl- /
noun
a type of home mortgage for which monthly payments stay constant for a term, usually of three to five years, and the interest rate is renegotiated at the end of every such term until the loan is paid off. Abbreviation: RRM
Also called
rollover mortgage.
Words nearby renegotiable-rate mortgage
rendu-osler-weber syndrome,
rendzina,
renegade,
renegado,
renege,
renegotiable-rate mortgage,
renegotiate,
renew,
renewable,
renewable energy,
renewable resource