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

Union mortgage loans news:

Loans are readily available, despite contrary reports - Chetek Alert
Smaller banks with traditional underwriting did not get caught up in the sub-prime mortgage mess and have money to loan. Pictured are First National Bank of Chetek loan officer Carol Busta, left, and vice president Rick Jacob. CNN, Newsweek-most ...

Credit union to unveil new name - MSN MoneyCentral
Mt. Zion 1st Baptist Federal Credit Union is planning to change its name and logo after more than four decades. The local credit union will announce its new name on Friday, Jan. 9, at its office at 333 Martin Luther King Dr. in San Antonio. The ...

Commercial property loans signal deepening stress - Reuters
NEW YORK, Jan 6 (Reuters) - The number of stressed commercial property loans increased at an accelerated pace in December, challenging a major segment of the U.S. bond market that has shown recent signs of stability. The percentage of commercial ...

Realtors in Tiers report hopeful signs - Star-Gazette
Despite a decrease in the number of homes sold statewide and in the Southern Tier during November, the median sales prices held firm and in some cases moved up -- more proof that the local real estate market is healthier than what is being reported ...

N.J. housing market slide provides opportunity for first-time buyers - Bridgeton News
In a wooded neighborhood of Raritan Township, Sarah Nojiri walks through an empty colonial with a dining room big enough to fit the large furniture her grandmother gave her. She can't wait to hold family dinner parties inside her first home, and she ...

Register for FREE - Wall Street Journal
Please register to gain free access to WSJ tools. An account already exists for the email address entered. For Bank of America, being a hero won’t come cheap. Bank of America officially married Merrill Lynch on New Year’s Day, culminating an ...

Will credit unions survive? - Independent
Share THE Irish credit union movement is facing into the most critical period in its 50-year history as a high proportion of its members shun its services in favour of credit card debt, motor loans and leases and electronic payments by direct debit ...

Inland credit union CEO presses Washington for share of economic ... - Riverside Press Enterprise
WASHINGTON - Banks across the nation have already benefited from September's massive economic rescue bill, to the tune of almost $280 billion. But credit unions haven't seen dollar one, prompting calls for federal help from an executive at one of the ...

Many 'Toxic' Mortgages Held by Small Business Owners - HispanicBusiness.com
Many of the nation's small business owners own "toxic" mortgages and are at risk of defaulting on their loans. The data, released by the National Association for the Self-Employed (NASE) and the Kean University School of Business in Union, N.J., on ...

Interest Rates Are Falling Even Further – Lower Mortgage Rate Makes ... - Best Syndication
(Best Syndication News) The recent reduction in the Federal Reserve and 10-year Treasury Bill interest rates has prompted some lenders to lower their interest rates. We have been monitoring local bank interest rates since November 2007 and have found ...