Life Cap definition
Life Cap means the limit on how much the interest or payment rate can change over the life of the loan.
Life Cap. Life Floor: Periodic Cap: Periodic Floor: Rounding Factor: Lookback (in days): Interest Calculation Method (e.g., Actual/360): Interest rate adjustment frequency: P&I payment frequency: First P&I payment due: First interest rate adjustment date: First payment adjustment date: Next interest rate adjustment date: Next payment adjustment date: Conversion Date: Converted Interest Rate Index: Converted Interest Rate Spread: Maturity date: Loan term: Amortization term: Hyper-Amortization Flag:
Examples of Life Cap in a sentence
Index: Margin: Floor Rate: Payment/Rate Adjustments: 6 Months Annual Other Annual or Other Adjustment Cap: Life Cap: Discount Points: $ or % of the loan amount.