US adjustable rate mortgage (ARM) using an interest rate based on the cost of funds index (COFI). This is the weighted average that fluctuates typically within 0.3 percent above or below the median rate. Known also as COFI ARM.
Link to This DefinitionDid you find this definition of COFI LOAN helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary