The maximum rate increase for a specific period for a specific loan adjustable-rate mortgage (ARM) only
This places a limit on the amount an interest rate may decrease or increase during one adjustment period.
The maximum amount that the note rate may increase or decrease at each interest change date after the first interest change date for the mortgages in an ARM PC pool. However, if an initial cap is not separately disclosed for an ARM PC, the periodic cap is the initial cap. A Periodic Rate Cap of zero (0.00%) indicates that there is no periodic cap and mortgages are subject to the lifetime ceiling and margin only.
The periodic interest rate cap is the maximum amount the loan rate can change on an adjustable-rate mortgage loan on the anniversary date. ARM loan rates are often reset once a year after an initial period. A lifetime cap often exists. A lifetime cap limits the maximum loan rate that can be charged.
In an adjustable-rate mortgage (ARM), this limit restricts how much an interest rate can fluctuate from one adjustment period to the next.
A provision of an adjustable-rate mortgage (ARM) that limits how much the interest rate or mortgage payments may increase or decrease over a specific period.
Is to limit the amount that payments can increase or decrease during the mortgage, adjustment period, regardless of how high or low the index might be.
For an adjustable-rate mortgage (ARM), 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. See cap.
The limit on how much the interest rate on an Adjustable Rate Mortgage can change during any one adjustment period.
A limit on an adjustable rate mortgage by which the interest rate can increase or decrease within one adjustment period.
On an adjustable-rate mortgage, it's the limit on the amount that the interest rate can increase or decrease during any one adjustment period, regardless of how high or low the related index(es) might be.
The limit on the amount that payments can increase or decrease during any one adjustment period in an ARM (adjustable rate mortgage), regardless of how high or low the index fluctuates.
In an adjustable-rate mortgage ( ARM), it limits how much an interest rate can increase or decrease during any one adjustment period. See caps. Back
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.
In an adjustable-rate mortgage (ARM), it limits how much an interest rate can increase or decrease from one adjustment period to the next.
On an adjustable-rate mortgage, the maximum adjustment to the interest rate that can occur during a single adjustment period.
On an adjustable-rate mortgage (ARM), a limit on the amount that the interest rate can increase during a single adjustment period.
A predetermined maximum amount that the interest rate may change during any one adjustment interval for an adjustable rate mortgage.
