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Today's Mortgage Terms starting with I

Index:

An index is usually a widely published market rate such as LIBOR, T-Bill or 11th District Cost of Funds (COFI). Lenders use these indices to set the interest rates charged on mortgage loans. For ARM, a predetermined margin is added to the index to calculate the interest rate adjustment.

Initial Rate:

The rate charged for the first interval of an ARM loan.

Interest:

Compensation in the form of money paid for the use of money.

Interest Rate Cap:

Caps limit the range that the interest rate on an adjustable rate mortgage can change in an adjustment interval during the term of the loan.

View all Terms
Mendocino mortgage loans news:
Financial News
Local real estate economy - Ukiah Daily Journal
Good time to buy, hard time for loans Worried consumers, investors and home owners are looking at today's economy and pulling back on financial adventures. One of those adventures is real estate, where the risk factor was considered nil just a few ...

Mendocino advised to look south at its future - Ukiah Daily Journal
Though economic times are tough, as Mendocino County moves forward it has plenty of examples of what to do and what to avoid right next door. That was the topic of discussion Friday afternoon at the "Mendocino County Tomorrow" economic presentation ...

Home sales soar, prices fall - Santa Rosa Press Democrat
Home sales doubled in September as bargain hunters grabbed up Sonoma County homes, putting a dent for the first time in the region’s lower-priced properties, according to a new report. Two out of three homes sold in September were foreclosure ...

Mailers criticize Furch's tax lapse - Santa Rosa Press Democrat
Two mailers hammering on Sonoma County supervisorial candidate Rue Furch's tardy property tax payments have landed in west county mailboxes in the campaign's waning days. Furch characterized the mailers as "full of half-truths and negative ...

People on the Move - Dayton Business Journal
Broadstreet , a Watertown-based creative marketing and communications agency, added Heather Towsley as director of business development, focusing on travel, technology, pharmaceutical and biotechnology clients. Towsley, who has over 15 years of sales ...

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