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Glossary of Terms > P > Periodic Rate Cap

Periodic Rate Cap

On an adjustable-rate mortgage, it's the limit on the amount that the interest rate can increase or decrease during any one adjustment period, regardless of how high or low the related index(es) might be.

P Terms

Payment Change Date

Periodic Payment Cap

Periodic Rate Cap

Piggyback Loan

PITI

Points

Portable Mortgage

Pre-approval

Pre-Qualification

Preconstruction

Predatory Lending

Prepayment

Prepayment Penalty

Primary Mortgage

Primary Residence

Prime Rate

Principal

Principal Limit

Private Mortgage Insurance

Probate

Processing

Promissory Note

Property Tax

Purchase Agreement

Purchase Money Mortgage