Lifetime Cap

Lifetime Cap
Maximum rate of interest that can be charged at any point during the term of an adjustable-rate mortgage (ARM). Usually expressed as a percentage increase from an original interest rate. Such caps are part of a mortgage’s interest rate cap structure.

Related posts:

  1. Alternative Mortgage Instruments
  2. ARM- Adjustable Rate Mortgage
  3. Graduated-Payment Mortgages (GPMs)
  4. Interest
  5. Mortgage Banker

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