ARM Mortgage

Payment Cap Definition

Whereas things like emergency travel funds were considered professional sports payments five or 10 years ago, they aren’t now, Noll said. “Whatever doesn’t violate NCAA rules – that’s the definition.

Index Plus Margin To apply an index on a rate plus margin basis means that the interest rate will equal the underlying index plus a margin. The margin is specified in the note and remains fixed over the life of the loan. For example, a mortgage interest rate may be specified in the note as being LIBOR plus 2%, 2% being the margin and LIBOR being the index.

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