renegotiable-rate mortgage

[ ree-ni-goh-shee-uh-buh l-reyt, -shuh-buh l- ]

/ ˌri nɪˈgoʊ ʃi ə bəlˌreɪt, -ʃə bəl- /

noun

a type of home mortgage for which monthly payments stay constant for a term, usually of three to five years, and the interest rate is renegotiated at the end of every such term until the loan is paid off. Abbreviation: RRM

Words nearby renegotiable-rate mortgage

rendu-osler-weber syndrome, rendzina, renegade, renegado, renege, renegotiable-rate mortgage, renegotiate, renew, renewable, renewable energy, renewable resource

Also called rollover mortgage.