Rate-improvement

A Fixed-Rate Mortgage provision which gives the borrower a one-time Option to reduce the Interest rate, without Refinancing, near the beginning of the mortgage.

Related Terms: 11 Borrow, Financing, Fixed-Rate Mortgage, FIN, Interest, Interest rate, Mortgage, Option, Owe, Provision, Refinancing

Other Related Pages: Category: Real_Estate Starting With: R

Additional Related Terms: Adjustable rate, Accrual of discount, Accrued interest, Amortization of premium, At par, All or any part, At best, At call, Adjustable rate preferred stock, At risk