Interest Rate Floor
Definition of "Interest Rate Floor"
The lowest interest rate possible under an ARM contract. Floors are less common than ceilings.
Popular Mortgage Terms
A lender who offers mortgage loans directly to the public. ...
The period over which the borrower is obliged to make payments. On most mortgages, the payment period is a month but on some it is biweekly. It is not necessarily the same as the Interest ...
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