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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
Sussex mortgage loan news:
Financial News
Brown aims to halt repossessions - Lewes Today
Gordon Brown has moved to stem growing repossessions with a £1 billion package to allow struggling homeowners to defer mortgage payments for up to two years. Eight major lenders, accounting for about 70% of the UK mortgage market, have signed up to ...

Report: Bank to delay repossessions - Lewes Today
Borrowers who fail to keep up with mortgage repayments will be given a six-month breathing space by the Royal Bank of Scotland (RBS), according to reports. RBS, which owns NatWest, is expected to announce on Monday it will not repossess the ...

Lenders told to treat mortgage holders fairly or face action - Herald
Mortgage lenders were warned by regulators yesterday they must take "urgent" steps to ensure fair treatment of customers in arrears. Lenders may face disciplinary action if they do not comply with new rules by a January 31 deadline, the Financial ...

Real-Time News - Newark Star-Ledger
• Football: Millburn plays Madison during their Thanksgiving game • Football: Millburn plays Madison during their Thanksgiving game • Football: Millburn plays Madison during their Thanksgiving game They met as teenagers, finding a common bond ...

NDP-GPC-LPC = 52% of the vote. - Globe and Mail
J. Michael from Canada writes: Clark Kellog from Calgary - I do not disagree, but obviously the GG is not really making any decision. It comes down to what the elected body that decides. I am happy with that. The GG is only a head, I figure! Go to an ...

Now lenders take hard line on interest-free loans - Guardian Unlimited
Nervous lenders are taking a tougher stance on applications for interest-only mortgages, for fear that borrowers will be unable to repay their original loans at maturity. Abbey and C&G are among the growing band of lenders tightening up lending rules ...

The Reporter - Guardian Unlimited
"The risky way to get it Together" was the headline on a Guardian Money article almost three years ago which told how first-time buyers were snapping up a Northern Rock mortgage that allowed you to borrow as much as 125% of a property's value. The ...

Habitat for Humanity home seeks residents - New Jersey Herald
STANHOPE -- Morris Habitat for Humanity and Sussex Habitat for Humanity are now accepting applications for a fourplex to be built on Lloyd Avenue in Stanhope. This condominium complex will have two, one-bedroom units and two, two-bedroom units. The ...

House prices dive 15% in record drop - Times Online
British house prices fell by a record 15 per cent in the year to October as the country's deteriorating economy wiped £30,000 off the value of an average UK home. On a monthly basis, house prices fell by 2.2 per cent between September and October ...

Illinois housing prices, sales plunge - Chicago Tribune
The nation's housing industry no longer is counting down the days until 2009—the year that held the promise of a long-awaited turnaround. Now, it is waiting for 2010. A growing chorus of experts predicts no relief for the residential real estate ...

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