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Payment cap
This cap places an annual limit on the amount that a monthly payment can increase. This feature is offered by some ARM lenders instead of an annual interest rate cap.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Real estate
- Category: General
- Company: Coldwell Banker
- Product:
- Acronym-Abbreviation:
Other Languages:
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