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:
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Examples of Life Cap in a sentence

  • 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.

  • Index= 1-year Libor Margin = 2.75Rate cap adjustments: • Initial Cap 6% (first change 60 months if 5/1, 84 on a 7/1, 120 on a 10/1)• Periodic Cap 2% (Adjustment period 12 months)• Life Cap 6% 30 Year amortization on all ProductsCOMPENSATIONLender paid - 1 point lender paid compensation for all our clients nationwide…you cannot charge any other fees…Borrower paid – you can make up to 2 points(including origination and your fees ….) nothing from Bofi..

  • Interest Rate: % Margin: % Index: % Life Cap: % Type of Loan: Term: Amortization Type: Loan Amount $: Origination Fee: % Discount Points: % Expiration Date: / / By signing this lock agreement, PLUM TREE MORTGAGE will float or lock your interest rate according to the terms set in this agreement.

  • For all Mortgages that are 1/1 or 3/1 CMT-indexed ARMs with Settlement Dates after August 31, 2021, the Borrower must be qualified using the Note Rate plus the Life Cap.

  • 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.

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

  • 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.

  • As a part of the design of water systems, ensure adequate pumping and storage capacity for both drought and emergency conditions as well as the ability to provide City required fire flows.

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

Related to Life Cap

  • Life-cycle cost means the expected total cost of ownership during the life of a product, including disposal costs.

  • life cycle means all consecutive and/or interlinked stages, including research and development to be carried out, production, trading and its conditions, transport, use and maintenance, throughout the existence of the product or the works or the provision of the service, from raw material acquisition or generation of resources to disposal, clearance and end of service or utilisation;

  • Remaining Average Life means, with respect to any Called Principal, the number of years (calculated to the nearest one-twelfth year) obtained by dividing (i) such Called Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to such Called Principal by (b) the number of years (calculated to the nearest one-twelfth year) that will elapse between the Settlement Date with respect to such Called Principal and the scheduled due date of such Remaining Scheduled Payment.

  • 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.

  • Life expectancy means life expectancy as computed by use of the Single Life Table in Section 1.401(a)(9)-9 of the Treasury regulations.

  • Minimum Tranche Amount has the meaning specified in Section 2.15(b).

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.