Mortgage Spread definition
Mortgage Spread shall have the meaning ascribed to the term “Spread” in the Mortgage Loan Agreement.
Mortgage Spread means the “Reduced Acquisition Loan Spread” and/or the “Construction Loan Spread” each as defined in the Mortgage Loan Agreement.
Examples of Mortgage Spread in a sentence
Under PC Gold, the Interest Rage shall be calculated as the total of: (1) the bond equivalent yield of U.S. Treasury securities with remaining term equivalent to the term of the Loans and (2) the Mortgage Spread to be set at Interest Rage Lock-In. As of the date of this Commitment, the Mortgage Spread in the market is approximately 133 basis points, although the Spread may change over time.
The interest rage on the loans will be calculated at the time of the Interest Rate Lock by adding a Mortgage Spread of 133 basis points over the Treasury yield as outlined below in paragraph 5.