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Real Estate Glossary
Welcome to our online Real Estate glossary. To search for a term,
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Life cap:
A limit on the amount that a loan rate can move during the term of the mortgage. For example, the rate on an adjustable-rate mortgage that begins at 5 percent and has a lifetime cap of 6 percentage points cannot rise above 11 percent, even if rates on fixed-rate mortgages soar to 20 percent.
As defined by Inman
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The definition for Life cap and
this glossary as a whole are presented to you as a courtesy of ForeclosuresMass.
For other terms, explinations, definitions and descriptions, please
visit our Glossary page.
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