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Glossary of Terms > T > Two-Step Mortgage

Two-Step Mortgage

A name for an adjustable-rate mortgage (ARM) that has one interest rate for the first five or seven years of its mortgage term and a different interest rate for the remainder of the amortization term.

T Terms

Teaser Rate

Temporary Buydown

Term

Timeshare

Title

Title Insurance

Total Expense Ratio

Total Interest Payments

Transfer of Ownership

Treasury Index

Truth-In-Lending

Two-Step Mortgage