|
|||

| Barryton | Chippewa Lake | Morley | Remus | Stanwood | |||
| Big Rapids | Mecosta | Paris | Rodney | ||||
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 |
|||||||
|
|
| Mortgage Calculator | APR Calculator | Mortgage Articles | Mortgage Glossary | Credit Cards | Auto Loans |
|
|||
