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Variable-rate mortgage
Variable-rate mortgage Home loan in which the interest rate is changed periodically based on a standard financial index. Also called an adjustable-rate mortgage.
RELATED TERMS--------------------------------------
Loan
A sum of borrowed money (principal) that is generally repaid with interest.
Interest
Money paid to a lender as compensation for money that is borrowed.
Rate
Percentage a borrower pays for the use of money, usually expressed as an annual percentage.
Index
A measurement used by lenders to determine changes to the Interest rate charged on an adjustable rate mortgage.
Mortgage
A legal document pledging property as security for the payment of a loan.
SIMILAR TERMS--------------------------------------
Variable costs
Operating expenses that fluctuate with occupancy, such as utilities and maintenance costs.
Variable interest rate
A fluctuating interest rate that can go up or down depending on the going market rate.
Variable lease
Allows for increases in the rental charges during the lease period.
Variable rate
The mortgage interest charged by the lender can vary from month to month and is set by the lender.
Variance
Government authorization to use or develop a property in a manner which is not permitted by the applicable zoning regulations.
Variate
A single item in a group.
PREVIOUS AND NEXT TERMS--------------------------------------
Vapor retarders
Special materials used in the installation of thermal insulation to reduce the passage of water vapor.
Variable costs
Operating expenses that fluctuate with occupancy, such as utilities and maintenance costs.
Variable interest rate
A fluctuating interest rate that can go up or down depending on the going market rate.
Variable lease
Allows for increases in the rental charges during the lease period.
Variable rate
The mortgage interest charged by the lender can vary from month to month and is set by the lender.
Variable-rate mortgage
Variance
Government authorization to use or develop a property in a manner which is not permitted by the applicable zoning regulations.
Variate
A single item in a group.
Vaulted ceiling
An elongated half-cylinder that arches above the floor.
Vendee
The purchaser of realty; the buyer. The buyer under a land contract.
Vendor
The seller of realty. The seller under a land contract.
This dictionary contains 6433 terms. |
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