For an adjustable-rate mortgage (ARM), a limit on the amount that payments can increase or decrease during any one adjustment period. See cap.
The limit on how much regular monthly payments on an Adjustable Rate Mortgage can change during one adjustment period.
The limit by which payments can increase or decrease, within an adjustment period, for an adjustable rate mortgage whose interest rate and minimum payment fluctuate independently.
For an adjustable-rate mortgage where the interest rate and the minimum payment amount fluctuate independently of one another, this is a limit on the amount that payments can increase or decrease during any one adjustment period.
The limit on the amount that payments can increase or decrease during any one adjustment period for an adjustable-rate mortgage (ARM) where the interest rate and principal fluctuate independently of one another.
for an adjustable-rate mortgage, a limit on the amount that the interest rate can increase or decrease during any one adjustment period, regardless of how high or low the index might be.
A provision of an adjustable-rate mortgage (ARM) that limits how much the interest rate or loan payments may increase or decrease. In upward rate markets, it protects the borrower from large increases in the interest rate or monthly payment at each adjustment period. See cap.
On an adjustable-rate mortgage (ARM), a limit on the amount that payments can increase during a single adjustment period.
A predetermined maximum amount that payment amounts may change during any one adjustment interval for an adjustable rate mortgage.