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What is ARM margin?
Lender’s fixed markup over index.
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What is ARM index?
Market benchmark for ARM adjustments.
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What is ARM cap?
Limits rate increases.
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What is FHA streamline refinance?
Simplified FHA refinance.
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What is VA IRRRL?
VA Interest Rate Reduction Loan.
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What is cash-out refinance?
Refinance taking equity as cash.
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What is rate-and-term refinance?
Refinancing to change rate or term.
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What is delayed financing?
Cash buyers refinancing shortly after purchase.
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What is seasoning for refinance?
Required time before refinancing.
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What is cross-collateralization?
Multiple properties securing one loan.
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