Teaser Rate
Definition of "Teaser Rate"
The initial interest rate on an ARM, when it is below the fully indexed rate.
Popular Mortgage Terms
Rolling short-term debt into a home mortgage loan, either at the time of home purchase or later. The Case for Consolidation: Borrowers consolidate in order to reduce their finance costs. ...
The number of months for which the initial interest rate holds on an ARM. ...
The definition of a reverse mortgage is important for homeowners 62 and older who want to supplement their retirement income. What exactly is a reverse mortgage? Some say that it is the ...
The party who services a loan, who may or may not be the lender who originated it. ...
A documentation requirement where the applicant's assets are not disclosed. ...
A borrower, usually refinancing rather than purchasing a home, who allows a lock to expire when interest rates go down in order to lock again at the lower rate. ...
The specific interest rate series to which the interest rate on an ARM is tied, such as 'Treasury Constant Maturities, One-Year,' or 'Eleventh District Cost of Funds.' ...
A lender who offers mortgage loans directly to the public. ...
Equations used to derive common measures used in the mortgage market, such as monthly payment, balance, and APR. ...
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