9 Terms
Home > Industry/Domain > Banking > Refinance
Refinance
When a debt is repaid by making another loan on different terms.
Industry: Banking
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Refinance
adjustment cap
Banking; Refinance
A limit to how much a variable interest rate can go up or down in a single adjustment period.
adjustment date
Banking; Refinance
The date on which the interest rate changes for an adjustable-rate mortgage (ARM).
adjustment period
Banking; Refinance
The period that elapses between the adjustment dates for an adjustable-rate mortgage (ARM).
