Jan 06 , 2016

Tampa School of Real Estate

Convertible Mortgage

Definition: A financing method allowing a change from an adjustable-rate to a fixed-rate mortgage.

Pronunciation:   \kən-ˈvər-tə-bəl\ \ˈmȯr-gij\

Used in a Sentence:   We were able to change to a fixed-rate mortgage because we had a convertible mortgage.

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