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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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Elko mortgage quotes news:
Financial News
Letters to the Editor: Oct. 12 - Record Searchlight
This proposition does not seek to "protect marriage" but to "define marriage." Is it possible that you do not see the long-range ramifications this will have on many of our institutions if it does not pass? California has very strict anti ...

Obama pledges reform: Seeks Elko's support in third stop - Elko Daily Free Press
Democratic presidential nominee Barack Obama speaks to a smiling crowd today during a campaign stop in Elko's Main City Park. ( Ross Andreson / Elko Daily Free Press ) ELKO - A self-described “honorary Elkonian,” Democratic presidential nominee ...

September 2008 (201) - MSNBC Firstread
SEDONA, Ariz. -- In between her debate-prep sessions here, Palin called into the conservative Hugh Hewitt radio program Tuesday, decrying the lack of journalism ethics and repeatedly referring to herself as “Joe Six Pack.” Oct. 1: Sarah Palin ...

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