capped-rate mortgage

capped-rate mortgage
capped-rate mortgage capped-rate mortgage mortgage1

Financial and business terms. 2012.

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  • capped-rate — UK US adjective [before noun] ► FINANCE, PROPERTY a capped rate loan is one with an interest rate that will not rise above an agreed rate for an agreed period of time: »a capped rate mortgage/loan »If the home buyer wants security against rising… …   Financial and business terms

  • capped rate — ➔ rate1 * * * capped rate UK US noun [C] ► FINANCE, PROPERTY an interest rate on a loan that will not rise above an agreed rate for an agreed period of time: »A capped rate guarantees your mortgage will not rise above a certain level …   Financial and business terms

  • Adjustable-rate mortgage — A variable rate mortgage, adjustable rate mortgage (ARM), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit… …   Wikipedia

  • Variable-rate mortgage — A variable rate mortgage or floating rate mortgage is a mortgage loan where the interest rate varies to reflect market conditions. The interest rate will normally vary with changes to the base rate of the central bank and reflects changing costs… …   Wikipedia

  • variable rate mortgage — UK US noun [C] (also adjustable rate mortgage) FINANCE, PROPERTY ► a loan for buying a house on which the interest rate can change over time: »One building society is currently offering a five year variable rate mortgage, capped at 5.75% …   Financial and business terms

  • capped rate — /ˌkæpt reɪt/ verb a mortgage rate which is guaranteed not to go above a certain level for a set period of time, although it can move downwards …   Dictionary of banking and finance

  • mortgage — the transfer of right of ownership of a property from a debtor to a creditor as security for a debt, with the proviso that once the debt is paid ownership is transferred back. Glossary of Business Terms (1) noun A legal instrument that creates a… …   Financial and business terms

  • Mortgage — A loan secured by the collateral of some specified real estate property which obliges the borrower to make a predetermined series of payments. The New York Times Financial Glossary * * * ▪ I. mortgage mort‧gage 1 [ˈmɔːgɪdʒ ǁ ˈmɔːr ] noun… …   Financial and business terms

  • Mortgage underwriting — is the process a lender uses to determine if the risk (especially the risk that the borrower will default[1] ) of offering a mortgage loan to a particular borrower is acceptable. Most of the risks and terms that underwriters consider fall under… …   Wikipedia

  • Mortgage industry of the United Kingdom — The Mortgage industry of the United Kingdom has traditionally been dominated by building societies, but from the 1970s the share of the new mortgage loans market held by building societies has declined substantially. Between 1977 and 1987, the… …   Wikipedia

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