Realtor Jargon:
Alternative mortgage:
A home loan program that does not conform to standard fixed-rate mortgage terms.
Caps%(Interest%Rate%Caps)


Caps (Interest Rate Caps)

Consumer safeguards which limit the amount the interest rate on an adjustable rate mortgage which may change per year and/or the life of the loan.



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For a more indepth definition or explanation of Caps (Interest Rate Caps) and how it affects your real estate transaction, call me!