You should obtain a notice in the mail at least 15 days before the official transfer. A completely amortizing settlement is a periodic funding payment made according to a schedule that ensures it will be settled by the end of the loan's set term. A 5/1 adjustable-rate mortgage is an ARM that keeps a set rate of interest for the first five years, after that readjusts each year after that. ARMs commonly have limits, or caps, on just how much the rates of interest can rise each time it readjusts and in total over the life of the finance.