Payment increase cap
Definition
The maximum percentage increase in the payment on an ARM at a payment adjustment date. A 7 >> 5% cap is common.
Related Terms Other terms related to 'Payment increase cap' starting with the letter 'P' Predatory lending, Private mortgage insurance, Payment adjustment interval, Payment period, Prepayment penalty Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 