The Loan Dictionary
Loan terms and details – everything you need to know about loans
Adjustment date
Real estate loan Adjustment date
The date and time of the interest rate changes for an adjustable-rate mortgage (ARM).
The trigger for this will be in your loan docs so make sure to check and know this. Ask for an example if you don’t understand it.
Bob’s advice - just stay away from the ARM mortgage and go for a fixed rate loan.