Loan that combines elements from fixed-rate and adjustable mortgages to allow the borrower to minimize the cost that may result from refinancing. This loan gives individuals the option to refinance over a 3 year period to lock in the current mortgage rate, but can only occur between year 2 and year 5.
Related information about reduction-option loan (ROL):
- What is reduction-option loan (ROL)? definition and meaning
Definition of reduction-option loan (ROL): Loan that combines elements from fixed-rate and adjustable mortgages to allow the borrower to minimize the cost that ...
- Reduction-Option Loan - Financial Dictionary - The Free Dictionary
Reduction-Option Loan (ROL). A hybrid of a fixed-rate and adjustable-rate mortgage. An ROL matches the borrower to the current mortgage rate, which then ...
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Definition of reduction option loan (ROL): This instrument uses different types of loans to give a consumer an affordable interest rate. For example, a mixed ...
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Convertible fixed rate mortgages are often referred to as the Reduction Option Loan (ROL) or, in some locations, the Reducing Interest Loan (RIL), or Mortgage ...
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Reduction-Option Loan (ROL): A hybrid of a fixed-rate and adjustable-rate mortgage. An ROL the borrower to match the current mortgage rate, which then ...
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Reduction-Option Loan (ROL): A hybrid of a fixed-rate and adjustable-rate mortgage. An ROL the borrower to match the current mortgage rate, which then ...
- Popular Fixed Mortgages | Banks
Aug 14, 2012 ... Also known as a Reduction Option Loan (ROL), Reducing Interest Loan (RIL), or Reducing Interest Mortgage (RIM), this type of fixed mortgage ...
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Oct 31, 2005 ... Convertible fixed rate mortgages or the Reduction Option Loan (ROL) allows homeowners to avail a home loan that can be converted to a low ...