Payment Change Date

1 topic · 2 sources

Real Estate

The date on which a new monthly payment amount takes effect, for example, on an adjustable-rate mortgage (ARM) loan.

Federal Trade Commission — Real Estate Marketplace Glossary

The date when a new monthly payment amount takes effect on an adjustable-rate mortgage (ARM) or a graduated-payment mortgage (GPM). Generally, the payment change date occurs in the month immediately after the interest rate adjustment date.

US Department of Housing and Urban Development — Homes & Communities Glossary