Southfield Mortgage Refinance and Information Online from competing Lenders
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News about Mortgages:
Federal-Mogul Corporation Delivers Solid Sales, Gross Margin, Net - MSN MoneyCentralOperating Results Comparable to Year-Ago Levels in Spite of Significant Economic Downturn Experienced in Q3 2008 SOUTHFIELD, Mich. , Oct. 22 /PRNewswire-FirstCall/ -- Federal-Mogul Corporation FDML today reported solid year-over-year results with ...
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INDUSTRY NEWS & PEOPLE March 2007 - Business Travel ExecutiveThe NBTA Foundation has announced the retirement of four members from its Board of Trustees and the appointment of their successors. The four outgoing Board members are Fay Beauchine, Carlson Companies; Mathias Friess, Virgin Blue; Susan Jacobs, Visa ...
Today's Mortgage Terms starting with I
Index: An index is usually a widely published market rate such as LIBOR, T-Bill or 11th District Cost of Funds (COFI). Lenders use these indices to set the interest rates charged on mortgage loans. For ARM, a predetermined margin is added to the index to calculate the interest rate adjustment.
Initial Rate: The rate charged for the first interval of an ARM loan.
Interest: Compensation in the form of money paid for the use of money.
Interest Rate Cap: Caps limit the range that the interest rate on an adjustable rate mortgage can change in an adjustment interval during the term of the loan.
View all Terms