Back to Glossary
Convertibility Clause
January 19, 2023
A clause that allows the borrower of an ARM loan to change the ARM to a fixed-rate loan at a specified time during the loan period.
Related Topics
What Is a Property Tax Lien
What Is an Adjustable Rate Mortgage (ARM)?
Navigating the Process of Mortgage Modification
What Is Non-Recourse Lending?
What Is a Short Sale?
When Is the First Mortgage Payment Due?
What Does Foreclosure Mean?
What Is a HELOC Loan?