Cap & collar mortgage
The mortgage definition for Cap & collar mortgage:
This is a mortgage that has both a top and bottom limit set for the interest rate. It is a very safe and risk free type of mortgage, as you are protected against intetrest rate rises above a certain point, but you are losing some of the potential gains if interest rates drop.
Assumable mortgageAssumable mortgage
A mortgage that can be transferred to another borrower.
Balloon mortgageBalloon mortgage
A mortgage in which monthly installments are not large enough to repay the loan by the end of the term. As a result, the final payment due is the lump sum of the remaining principal.
Biweekly mortgageBiweekly mortgage
A mortgage that requires payments every two weeks and helps repay the loan over a shorter term.
Further Suggestions Blanket mortgage
Buy down mortgage
Capped rate mortgage
Council of Mortgage Lenders
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