Fixed Rate - Law Dictionary Search Results
fixed rate
Matched in: Term fixed rate
fixed-rate mortgage
Matched in: Term fixed-rate mortgage
rate
Matched in: Term rate
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Evaluate
To fix the value of to rate to appraise
mortgage
a mortgage having an interest rate which is usually initially lower than that of a mortgage with a fixed rate but which is adjusted periodically according to an index (as the cost of funds to the lender) balloon … first mortgage : a mortgage that has priority over all other security interests except those imposed by law fixed rate mortgage : a mortgage having an interest rate that stays the same general mortgage in the civil law
conversion clause
are allowed at the end of the first adjustment period. At the time of the conversion, the new fixed rate is generally set at one of the rates then prevailing for fixed rate mortgages. There may be additional … conversion clause a provision in some ARMs allowing it to change to a fixed-rate loan at some point during the term. Usually conversions are allowed at the end of the first adjustment
Interest
see also Ghaziabad Development Authority v. Balbir Singh, (2004) 5 SCC 65. Interest. 1. Money paid at a fixed rate per cent. for the loan or use of some other sum, called the principal. It is distinguished into
security
relating to registration on a security exchange) fixed-income security : a security (as a bond) that provides a fixed rate of return on an investment (as because of a fixed interest rate or dividend) government security : a
Deposit account
cheques, and usually not to be withdrawn except after a fixed notice, but bearing interest either at some fixed rate, or very often at 1 per cent. less than the Bank of England rate, and therefore at a
adjustable-rate mortgage (arm)
Matched in: Term adjustable-rate mortgage (arm)
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