What is RENEGOTIABLE RATE LOAN?

a type of home loan 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.

More On This Topic



Link to This Definition
Did you find this definition of RENEGOTIABLE RATE 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