Convertible ARM
Fannie Mae
Updated 10-31-2026
Convertible ARM
A type of adjustable-rate mortgage that includes an option for the borrower to change the mortgage to a fixed-rate mortgage in the early years of the mortgage term.
Fannie Mae Glossary of Terms
Fannie Mae · p. 9
FreddieMac
Updated 10-31-2026
Convertible ARM
A Convertible ARM is an ARM as to which the Borrower has the option, exercisable during a Conversion Window, to convert the adjustable interest rate to a fixed interest rate pursuant to a Conversion Formula. Convertible ARMs are not eligible for sale to Freddie Mac.
FreddieMac Glossary
FreddieMac · p. 9
FTC
Updated 10-31-2026
Convertible ARM
An adjustable-rate mortgage (ARM) that allows the borrower to convert the loan to a fixed-rate mort-gage under specified conditions.
FTC Real Estate Terms
FTC · p. 5
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