Mortgage Dictionary: Definition of Lifetime Cap
Here is the definition for 'Lifetime Cap'. To show a different definition, select a term from the dropdown text box. The online mortgage glossary will display a definition, plus links to related information.
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Lifetime Cap
A lifetime cap is a type of
rate cap
used in some
adjustable-rate mortgages
. It sets limits on the amount that
interest rates may rise or fall over the life of the loan.
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