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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
Grant home equity loans news:
Financial News
Here's How Badly Chrysler Needs a Bailout - CFO.com
Private-equity firm Cerberus Capital Management, which owns Chrysler, said it will give up any profits on a future sale of the car company if it receives federal financial aid, Bloomberg News reported. Speaking at a conference in Palm Desert ...

Federal grant to back county foreclosure program - Fairfax Times
Fairfax County will get $2.8 million in federal funds to bolster the foreclosure program it set up earlier this year. More than half the money will be used to provide no-interest loans to help first-time home buyers purchase foreclosed properties ...

Urban League's closure leaves community-watchdog void - News-Gazette
CHAMPAIGN – Years ago, a black mom walked into Ks Merchandise and found not one black doll to buy for her daughter. She confronted the manager, who told her, "No one's ever asked me to buy black dolls, and I only buy things that are going to sell ...

All about those infamous Wall Street bonuses - San Francisco Gate
Sunday, November 23, 2008 Checks go to everyone from the CEO to the 21-year-old junior analyst straight from college. In good years, the money can be eye-popping, the subject of wide speculation and envy. This, however, isn't a good year. It's been a ...

Wells Fargo takes part in program - Jamestown Sun
Wells Fargo has an-nounced it has made a $250,000 equity investment in CommunityWorks North Dakota, a nonprofit organization dedicated to providing affordable housing and community development opportunities. In addition, the company will donate $5 ...

The Next Subprime Crisis Looms - FHA-Backed Loans - Free Internet Press
The same people whose reckless practices triggered the global financial crisis are onto a similar scheme that could cost taxpayers tons more. As if they haven't done enough damage. Thousands of subprime mortgage lenders and brokers - many of them the ...

Paying off college tuition has a higher degree of difficulty now - Lubbock Avalanche-Journal
Higher college costs and steep losses in college savings plans are forcing students and their parents to borrow more to earn bachelor's degrees. Last year's seniors, facing increasing costs through their college years, graduated with an average debt ...

College choices get harder with downturn - Austin American-Statesman
For years, Mike and Kelly D'Addeo planned to use their trove of Intel Corp. stock options to send their son Tony to a top college. Tony would be a good candidate for any school: He's a straight-A senior at Bowie High School and captain of the ...

Builders complete, celebrate Castle Pine project - Great Falls Tribune
New homeowners, relatives, volunteers and officials gathered Friday to celebrate the completion of 10 houses in the Castle Pines area on the south edge of Great Falls, several blocks from Sunnyside School. Among them was Eric "Clawhead" Bakly. He ...

Housing Misspending Alleged - Southwest Times Record
The Fort Smith Housing Authority is working with Housing and Urban Development officials in Little Rock to resolve allegations that it misspent more than $534,000 of federal money, the authority’s director confirmed this week. Ken Pyle, executive ...

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