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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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Hancock mortgage quotes news:
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Political Insider - Atlanta Journal Constitution
Get the latest news, opinions and blogs on politics and the election from across the state on the Georgia Politics page. For those who believe that God changes the weather to shape events, it might have seemed that He was favoring the Democrats when ...

FLYS kicks off “Creating Hope” campaign - Globe Gazette
MASON CITY — Francis Lauer Youth Services is kicking off a $1.1 millon “Creating Hope” fundraising campaign that officials hope will retire the building mortgage. Once the mortgage is retired, funding can be devoted to funding valuable programs ...

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