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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.

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Platte mortgage loans news:
Financial News
New FEMA map would put hundreds of Waverly homes in floodplain - Papillion Times
WAVERLY - A Federal Emergency Management Agency (FEMA) five-year map modernization program is having a greater impact on the City of Waverly than anticipated. The map modernizations means changes to floodplain boundaries throughout Lancaster County ...

Banks consider working with Fed on financial rescue - Star-Herald
Hod Kosman didn’t figure his bank, the Platte Valley Bank in Scottsbluff, would need rescuing by the federal government. It has plenty of capital and good loan demand from its healthy regional economy. “We figured it was for the bigger banks with ...

Panhandle housing market avoids worst of slowdown - Star-Herald
There is still plenty of money available for home loans, says one Scottsbluff mortgage official. But buyers have to qualify and find a home they’re able to afford. Platte Valley Mortgage Company Vice President Jim Zitterkopf of Scottsbluff said the ...

Former FDIC leader Hove optimistic for recovery, but when? - Lincoln Journal Star
Andrew “Skip” Hove, unflappable as you might wish a banker to be, has seen turmoil in the financial industry that in some ways was worse than what you’re seeing now. And in some ways it wasn’t. Now living in Lincoln, Hove was vice chairman of ...

Letters, 10/6: Finish MoPac trail - Lincoln Journal Star
I realize there are bigger issues facing Nebraska residents these days, but our failure to finish the MoPac East Trail deserves further attention. The Journal Star ( Sept. 24 ) reported on the issue and the general opposition to it among the ...

The Weather Authority - WOWT
Omaha-based Union Pacific announced Saturday it has laid off or reduced hours for 1,500 engineers and conductors due to the struggling economy. The cutbacks have been ongoing since January 2007. UP employs 21,000 engineers and conductors. A spokesman ...

Election 2008 - Weekly Standard
Bill Sammon's sources tell him Steele may announce as soon as Thursday , and is courting the endorsement of Newt Gingrich, which if landed, would do much to scare off the incumbent and possible challengers: The source also contradicted a report in ...

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