Lifetime adjustment cap
- Listed: August 13, 2022 1:50 pm
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Description
Lifetime adjustment cap
A lifetime adjustment cap is typically used with adjustable rate mortgages (ARMs). This cap determines how much the interest rate can increase in total, over the life of the loan. For example, if this cap is five percent, that means the rate can never be five percentage points higher than the initial rate. Some lenders may have a different or higher cap.
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Listing ID: 62762f7ac078d69b
- Listed by: Editor
- Member Since: July 24, 2018
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