A loan which allows for a gradual interest rate increase during the first few years of the loan.
Related information about step rate mortgage:
- What is step rate mortgage? definition and meaning
Definition of step rate mortgage: A loan which allows for a gradual interest rate increase during the first few years of the loan.
- How to Set Up a Step-Rate Mortgage | eHow.com
How to Set Up a Step-Rate Mortgage. Step-rate mortgages are being offered by a number of banks to help out those borrowers who are in financial crisis.
- Step Rate Mortgage Provides Initial Fixed Rate - CMR
Worried about current interest rates? Refinance your adjustable rate mortgage to a step-rate mortgage to stabilize payments and ease into a fixed rate.
- What is a Step Rate Mortgage?
Step Rate Mortgage: A home loan mortgage in which the payments are lower at the beginning. The payments begin to rise after a period of time which stipulated ...
- Terms - First American Mortgage
... Standard Payment Calculation; Step-Rate Mortgage; Third-Party Origination; Total Expense Ratio; Treasury Index; Truth-in-Lending; Two-step Mortgage ...
- Mortgage Terminology
Step Rate Mortgage: A mortgage that allows for the interest rate to increase according to a specified schedule (i.e. seven years) resulting in increased payments ...
- Federal Register | Regulation Z; Truth in Lending
Sep 24, 2010 ... The term “step-rate mortgage” means a loan in which the interest rate will change after consummation, and the rates and periods in which they ...
- Regulation Z - Truth in Lending - Appendix H
H–4(F) Adjustable-Rate Mortgage or Step- Rate Mortgage Interest Rate and Payment Summary Model Clause (§ 226.18(s)). H–4(G) Mortgage with Negative ...