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State colleges get an 'F' for affordability - Hattiesburg AmericanMississippi gets an F in making college affordable. The National Center for Public Policy and Higher Education this week released its biennial report card on how well states provide Americans with education and training beyond high school. Higher ...
Summerville Briefs - Charleston Post & CourierThe Pinewood PTO has joined forces with Summerville Downtown Restoration Enhancement and Management to host the first Pinewood Holiday Spirit Extravaganza 8 a.m.-8 p.m. today. Downtown Summerville shops and restaurants will open their doors to the ...
Public Notices - Columbia StarNOTICE OF APPLICATION Notice is hereby given that Shanon Davis dba Big Country's Bar-b-que & Convenience intends to apply to the South Carolina Department of Revenue for a license/permit that will allow the sale ON/OFF premises consumption of Beer ...
Daily Report - Baton Rouge Business ReportFuture System Advisors has been awarded the first patent for a form of life insurance, a move that could generate billions of dollars in royalty payments for the company. "This is having a much bigger effect than I ever thought it would have," Future ...
Parents fight cancer for ‘Angel Emma’ - Bluefield Daily TelegraphPRINCETON — Emma Ruth Vannatter’s family believes she was born to be an angel. Just weeks after complications from leukemia took the little girl’s life, her mom finds comfort knowing that her “Angel Emma” doesn’t hurt any more. After ...
Long-time business shutting - Daily CorinthianBOONEVILLE -- A going-out-of-business sale is under way at Goddard's Jewelry, a business considered a local tradition in downtown Booneville. Owners James and Donnie Goddard have made the decision to retire after giving it serious consideration for ...
Crowds of shoppers may have thin wallets - Raleigh News & ObserverShoppers crowd the photography area of the Wal-Mart on New Hope Church Road at 5 a.m. on the morning after Thanksgiving Day. There were long lines of people purchasing cameras, electronics and televisions. As many as 128 million people nationwide are ...
House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News BlogsABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...
Executive Items - Charleston Post & CourierNeil Ferguson and Phil Dumouchel have joined SunTrust Bank 's Charleston mortgage division. Ferguson is sales manager for the coastal Charleston unit. Previously, he was with Bank of America for 19 years. Dumouchel is sales manager for the North ...
Bradford Mortgage Company Names Grady Raleigh Branch Manager - Carolina NewswireRALEIGH, NC – Chris Grady has joined Bradford Mortgage Company as Branch Manager in the Raleigh office. Grady previously was an area manager for Indymac Bank, American Home Mortgage, and Principal Residential Mortgage. A native of Atlanta Grady ...
Today's Mortgage Terms starting with I
Index: An index is usually a widely published market rate such as LIBOR, T-Bill or 11th District Cost of Funds (COFI). Lenders use these indices to set the interest rates charged on mortgage loans. For ARM, a predetermined margin is added to the index to calculate the interest rate adjustment.
Initial Rate: The rate charged for the first interval of an ARM loan.
Interest: Compensation in the form of money paid for the use of money.
Interest Rate Cap: Caps limit the range that the interest rate on an adjustable rate mortgage can change in an adjustment interval during the term of the loan.
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