Dual Index Mortgage

Definition of "Dual Index Mortgage"

Xiomara Leal real estate agent
Xiomara Leal, Real Estate Agent Sellstate Achievers Realty Network

A mortgage on which the interest rate is adjustable based on an interest rate index, and the monthly payment adjusts based on a wage and salary index. Dual index mortgages are not written in the U.S., but they are common in Mexico.

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