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Two-step mortgage
An adjustable mortgage with two interest rates, one for the first five or seven years of the loan, and the other for the remainder of the loan term.
Related Terms
Step-rate mortgage
Loan application
Alternative mortgage
Rehabilitation mortgage
Purchase-money mortgage
Fully amortized adjustable-rate mortgage
Biweekly mortgage
Blanket mortgage
First mortgage
Buy-down mortgage
Convertible adjustable-rate mortgage
Growing-equity mortgage
Assumable mortgage
Freddie Mac
Fannie Mae
Impounds
Mortgage life insurance
Mortgage broker
Multifamily mortgage
Graduated-payment mortgage (GPM)
Delinquent mortgage
Mortgage insurance
Wraparound mortgage
Truth-in-Lending Act
Life cap
Margin
Federal Home Loan Mortgage Corporation law
Subordinate loan
Second mortgage
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