|
|
Capped rate mortgage |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Capped rate mortgageAs with all variable rate mortgages, the rate follows the lender's SVR up and down. The difference with this type of mortgage is that the rate is guaranteed not to go above the level at which it is 'capped'. This type of mortgage is popular in times of steadily rising interest rates.Capped rate mortgageA mortgage which guarantees the interest rate charged will not rise above a certain level. But it may fall in line with variable rates.Similar MatchesMortgageeMortgageeThe party lending the money and receiving the mortgage. Some states treat the mortgagee as the "legal" owner, entitled to rents from the property. Other states treat the mortgagee as a secured creditor, the mortgagor being the owner. The latter is the more modern and accepted view. Blanket MortgageBlanket Mortgage(1) A mortgage covering more than one property of the mortgagor, such as a mortgage covering all the lots of a builder in a subdivision. (2) A mortgage covering all real property of the mortgagor, both present and future. When used in this meaning it is also called a "general mortgage". RemortgageRemortgageThe arranging of alternative finance for the purchase of a property which is already mortgaged. For example obtaining a mortgage with a lower interest rate to replace the existing mortgage. One hundred percent mortgageOne hundred percent mortgageA loan for the full cost of the home you are buying if are unable to raise a deposit to buy a property. You may have no existing equity, no savings, be using up all you do have on the other costs of the move, or perhaps be saving what you do have so that you can fix up your new home when you do buy it. Biweekly mortgage loanBiweekly mortgage loanA mortgage whereby the borrower makes a half monthly payment every two weeks instead of the usual 12 monthly payments. This arrangement results in 26 half monthly payments per year and a significant reduction in interest since an extra monthly payment is made. Further SuggestionsFull status mortgageRepayment mortgage Open end mortgage Assumable mortgage Mortgage broker mortgage Non status mortgage Joint mortgage Mortgage application Mortgage cash surplus Reverse mortgage Multifamily mortgage interest only mortgage reverse annuity mortgage Lehman Brothers Adjustable Rate Mortgage Index Take back mortgage Chattel Mortgage Growing Equity Mortgage (gem) Private Mortgage Insurance (PMI) Euro mortgage Purchase money mortgage GEM (growing equity mortgage) mortgage agreement in principle Mortgage code arbitration scheme Mortgage |
|
|
|