Our Agents | Contact Us | Home
Old Town Real Estate, LLC
538 Bedford Street
P.O. Box 188
Abington, MA 02351
(781) 878-5701 Office
(781) 871-9598 Fax

 
 
Our Listings

Buyers & Sellers
Buyer/Seller Info
  Market Analysis
  Dream Home Finder

Local Area

About Us

Tools & Links

Home
   
   
Real Estate Glossary



  Rate Caps

Lenders offer caps with their adjustable rate mortgages (ARMs) so you can have more control over your monthly mortgage payment. Usually, there are two types of rate caps:

-- A per-adjustment cap, which specifies the most your interest rate can rise from one adjustment period to the next,
-- and a lifetime adjustment cap, which specifies how much your interest rate can rise over the life of your loan.

Ask your lender about both caps when evaluating any ARM product.

 

[ Back To Real Estate Glossary ]

   
   

Old Town Real Estate,LLC
538 Bedford Street
P.O. Box 188
Abington, MA 02351
(781) 878-5701 Office
(781) 871-9598 Fax

Real Estate Websites by iHOUSEweb, Inc. ®

Site Admin Menu