Life Cap definition

Life Cap means the limit on how much the interest or payment rate can change over the life of the loan.
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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:
Sample 1

Examples of Life Cap in a sentence

  • XXXXXX 700630 XXXXXX Interest Rate Life Cap 7 5 Verified Per note in file.

  • Life Cap: plus/minus 5% over the initial interest rate (Rate may never be lower than the margin.)7/1 ARM: 5/2/5 capsAnnual Caps: plus/minus 5% of the initial rate at the first adjustment with every subsequent adjustment at plus/minus 2% of the preceding interest rate.

  • Net Funds Cap Carryover: If on any Payment Date the Group II Certificate interest distribution amount is less than the Group II Pass-Through Rate (which is subject to a maximum equal to the Weighted Average Life Cap of the collateral), the amount of such shortfall and the aggregate of such shortfalls from previous payment dates together with accrued interest at the Pass-Through Rate will be carried forward to the next Payment Date until paid.

  • Life Cap: plus/minus 5% over the initial interest rate (Rate may never be lower than the margin.)15/1 ARM: 5/2/5 capsAnnual Caps: plus/minus 5% of the initial rate at the first adjustment with every subsequent adjustment at plus/minus 2% of the preceding interest rate.

  • Life Cap: plus/minus 6% over the initial interest rate (Rate may never be lower than the margin.)3/1 ARM: 2/2/6 capsAnnual Caps: plus/minus 2% of the initial rate at the first adjustment with every subsequent adjustment at plus/minus 2% of the preceding interest rate.

  • XXXXXX 700660 XXXXXX Interest Rate Life Cap 7 5 Verified Per note in file.

  • Life Cap: plus/minus 5% over the initial interest rate (Rate may never be lower than the margin.)10/1 ARM: 5/2/5 capsAnnual Caps: plus/minus 5% of the initial rate at the first adjustment with every subsequent adjustment at plus/minus 2% of the preceding interest rate.

  • XXXXXX 700656 XXXXXX Interest Rate Life Cap 7 Verified Per note in file.

  • Net Funds Cap If on any Payment Date the Group II Certificate Carryover: interest distribution amount is less than the Group II Pass-Through Rate (which is subject to a maximum equal to the Weighted Average Life Cap of the collateral), the amount of such shortfall and the aggregate of such shortfalls from previous payment dates together with accrued interest at the Pass-Through Rate will be carried forward to the next Payment Date until paid.

  • 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.

Related to Life Cap

  • Weighted Average Life to Maturity means, when applied to any Indebtedness at any date, the number of years obtained by dividing: (a) the sum of the products obtained by multiplying (i) the amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal, including payment at final maturity, in respect thereof, by (ii) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment; by (b) the then outstanding principal amount of such Indebtedness.