Financial Definition of Interest Rate Cap
Meaning of Interest Rate Cap
Also called an interest rate ceiling, an interest rate agreement in which payments are made when the reference rate exceeds the strike rate.
Related Entries of Interest Rate Cap in the Encyclopedia of Law Project
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Interest Rate Cap in Historical Law
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Legal Abbreviations and Acronyms
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What is Interest Rate Cap?
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Concept of Interest Rate Cap in the context of Real Property
A short definition of Interest Rate Cap: The maximum interest rate increase of an Adjust-able Mortgage Loan. For example: a 12% loan with a 5% interest rate cap would have maximum interest for the life of the loan which would not exceed 17%.
Concept of Interest Rate Cap in the context of Real Property
A short definition of Interest Rate Cap: The maximum interest rate increase of an Adjust-able Mortgage Loan. For example: a 12% loan with a 5% interest rate cap would have maximum interest for the life of the loan which would not exceed 17%.
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