Definition
Margin
The fixed percentage added to an ARM’s index to produce the fully indexed rate. It does not change over the life of the loan.
Nearby terms
Loan-to-Value
The loan amount divided by property value, expressed as a percentage.
Lock Period
The number of days a quoted rate is guaranteed, commonly 30, 45 or 60 days.
Mechanic’s Lien
A claim recorded by a contractor or supplier for unpaid work on a property.
Mortgage
The security instrument pledging property as collateral for a loan.
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