Fully Indexed Rate
Definition of "Fully indexed rate"
Interest rate on an adjustable rate mortgage based on the total of the current value of an index and margin applicable to the mortgage. The rate is the basis for the computation of monthly loan payments. Assume a mortgage is indexed to the consumer price index, and it has a value of 5%. The margin on the loan is 1.5%.The fully indexed rate will be 6.5% which is the basis for the initial year's interest rate. The interest rate will change each year depending on the change in the related index.
Popular Real Estate Terms
When two or more individuals simultaneously have rights in a property unit (e.g., apartment),. The individuals sharing the property have legal privileges and responsibilities to each other. ...
A convex vaulted curvature often spherical in shape usually built atop of a building. Domes can be constructed of any material including masonry, wood, glass or steel. They can be ...
Dividing a lot into two or more parcels. Normally a variance would have to be obtained to permit a lot split. The lot cannot be split unless they meet minimum area zoning requirements ...
Used to compute the tax on a specified taxable income. The marginal tax rate usually increases as the taxable income rises. ...
The method for splitting a commission between a registered real estate sales person and the sponsoring real estate broker, and between the listing broker and the selling broker, or any ...
Last installment payment, substantially greater than the previous installment payments. The unpaid balance of a long-term loan is paid off in a lump sum at the end of the loan term. ...
While trying to determine your net income, you might come across the term revenue, sales, or gross income. So what does revenue mean? Through revenue, we understand the income generated ...
Notice of a pending suit; a public notice given to prospective purchasers and any one else considering an interest in property that the title is being legally challenged, and the outcome is ...
A real estate broker who lists and sells houses or condominiums, as distinguished from a commercial broker who handles business property. ...
Have a question or comment?
We're here to help.