Variable-Rate Loan - A loan plan where the interest charged, over the life of the loan, may vary in accordance with an index that is readily verifiable by the borrower and beyond the control of the lender.
Variable-Rate Loan:
Loan made at an interest rate that fluctuates with the prime.
Variable Life Insurance: ...
Variable-rate loan:
A loan extended at an interest rate charge which fluctuates with the Prime Rate or LIBOR or other benchmark rate.
Français: Prêt à taux variable
Español: Préstamo a tasa variable ...
It's an index that is used to set the cost of various variable-rate loans, particularly adjustable-rate mortgages. Lenders use such an index, which varies, to adjust interest rates as economic conditions change.
Cap - A provision in a variable-rate loan or line of credit that limits how much the interest rate or payments may increase during the life of the loan or line of credit.
ADJUSTABLE-RATE MORTGAGE (ARM) - Also known as a variable-rate loan, an ARM usually offers a lower init...
ADJUSTABLE-RATE MORTGAGES - The following information has been adapted from the "Consumer Handbook on A...
Debt consolidation can also be a way to turn variable-rate loans into a fixed rate loan. For some people the convenience of only having to service one loan as opposed to multiple loans is a sufficient reason to take out a debt consolidation loan.
A note that is payable on demand and bears interest tied to a money market rate.
Variable-rate loan ...
A table of yields or interest rates being paid on debt (such as Treasury notes or bank deposits) that is used to determine interest-rate changes for adjustable-rate mortgages and other variable-rate loans.
Rate lock ...
including the following: annual percentage rate, points, and fees; the total of the principal amount being financed; payment due date and terms, including any balloon payment where applicable and late payment fees; features of variable-rate loans, ...
Rate-capper/stopper mortgage option: An option that can lock in the term up to 5 years and protection from increased interest rates while offering the flexibility of a variable-rate loan.
 See also: Banks, Expense, LIBOR, Adjustable rate, Variable rate
  
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