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- Step-rate mortgage
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Step-rate mortgage
A loan that allows a gradual increase in the interest rate during the first few years of the loan.
Related Terms
Life cap
Convertible adjustable-rate mortgage
Two-step mortgage
Margin
Variable rate mortgage
Teaser rate
Adjustment period
Cap
Adjustable-rate mortgage (ARM)
Rate-improvement mortgage
Interest rate caps
Fixed-rate mortgage
Interest rate ceiling
Alternative mortgage
Fully amortized adjustable-rate mortgage
Initial interest rate
Buy-down mortgage
Growing-equity mortgage
Interest accrual rate
Note rate
Variable interest rate
Change frequency
Loan application
Mortgage
Note
Rate lock
Payment cap
Capitalization rate
Variable rate
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