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Resources > Glossary > Cap

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

Cap

Phonetics: cap    \'kap\

Function: noun

Definition 1:
A cap is a provision of an adjustable-rate mortgage (ARM) that limits how much the interest rate or mortgage payments can increase or decrease.

Thesaurus / Related Terms
Adjustable Rate Mortgage