| Term | Definition |
|---|---|
| Initial Interest Rate |
The original interest rate of the mortgage at the time of closing. This rate changes for an adjustable-rate mortgage (ARM). Sometimes known as "start rate" or "teaser." |

First Home in Rio Rancho
"Purchasing our first home was a daunting proposition to say the least. The team at the Maez Group made it all work, going beyond all expectations."
~ K. Altherr Rio Rancho, New Mexico
