Glossary of Real Estate terms used by Baja Real Estate Group's website.There are 367 Real Estate entries in this glossary. Complete with definitions.
- Conversion Clause
A provision in some ARMs allowing it to change to a fixed-rate loan at some point during the term. Usually conversions are allowed at the end of the first adjustment period. At the time of the conversion, the new fixed rate is generally set at one of the rates then prevailing for fixed rate mortgages. There may be additional cost for this clause.