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Lifetime cap |
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Lifetime capA limit on how high the interest rate on a variable rate mortgage can rise over the lifetime of the loan.Lifetime cap Similar MatchesLifetime reverse mortgageLifetime reverse mortgageA type of mortgage in which a homeowner borrows against the value a home, while retaining title, and making no payments while residing in the home. When the owner ceases living in the house, the property is sold, and the loan repaid. "Once in a Lifetime" Tax Exclusion"Once in a Lifetime" Tax ExclusionA forgiveness of a portion of the tax due on the sale of a residence by a senior citizen. As the term denotes, the exclusion can be taken only once. |
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