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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
Butler refinance mortgage news:
Financial News
Daily Report - Baton Rouge Business Report
Future System Advisors has been awarded the first patent for a form of life insurance, a move that could generate billions of dollars in royalty payments for the company. "This is having a much bigger effect than I ever thought it would have," Future ...

Mortgage refinancing rush is on - Milwaukee Journal Sentinel
Experts say everybody's case is unique and depends on the type and status of the mortgage, refinancing costs, overall finances and plans for the home. But there are some common factors to consider: How long will it take to recover the up-front costs ...

County leaders concerned over plan to help foreclosure victims - Journal-News
HAMILTON — "That was always my dream, was to have my own house," said a Middletown woman who asked to not be named. "Even though we're getting help, I'm so scared to lose it." She bought the house in November for $88,000. Almost the moment after ...

Viewer Stories: Living Paycheck To Paycheck - WSB-TV Atlanta
The economy has caused my employer to cut me to a 3/4 worker, cutting my wages but still putting me above the line to qualify for underemployment. I've spent months searching for a new job without luck. I refuse to look beyond the tri-city area ...

BLOG: Up to 100,000 at Obama rally Sunday - Rocky Mountain News
Democratic presidential candidate, Sen. Barack Obama, D-Ill., arrives at a rally in Fort Collins, Colo., Sunday, Oct. 26, 2008. Video: With nine days to go before Election Day, Sen. Barack Obama's rally in downtown Denver's Civic Center Park draws an ...

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