 Two-Step Mortgage
A mortgage in which the borrower receives a below-market interest rate
for a specified number of years (most often seven or 10), and then
receives a new interest rate adjusted (within certain limits) to market
conditions at that time. The lender sometimes has the option to call
the loan due with 30 days notice at the end of seven or 10 years. Also
called Super Seven or Premier mortgage.
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Courtesy links about Two Step Mortgage:| 1. | Looking For two step mortgage
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