In an adjustable rate loan (ARM), a maximum interest rate or "ceiling" that may not be exceeded under any circumstances over the entire life of the loan.
A limit on the amount that the interest rate can increase or decrease over the life of an adjustable rate mortgage (ARM). See cap.
Enter the maximum percentage that the initial interest rate can increase for the life of the loan.
In an adjustable rate mortgage (ARM), it limits the amount that the interest rate can increase or decrease over the life of the loan.
For an Adjustable Rate Mortgage (ARM) the maximum amount the interest rate can increase of decrease over the loan term.
For an adjustable-rate mortgage (ARM), a limit on the amount that the interest rate can change over the life of the loan. See Caps (interest).
The predetermined maximum amount that the interest rate may change over the life of an adjustable rate mortgage.
A limit on the amount that the interest rate on an adjustable-rate mortgage (ARM) can increase or decrease over the life of the loan.