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Index is a number used to compute the interest rate for an adjustable-rate mortgage (ARM). The index is generally a published number or percentage, such as the average interest rate or yield on U.S. Treasury bills. A margin is added to the index to determine the interest rate that will be charged on the ARM. This interest rate is subject to any caps on the maximum or minimum interest rate that may be charged on the mortgage, stated in the note.
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Index is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
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