Sentences with phrase «decrease over the life of the mortgage»

For an adjustable - rate mortgage (ARM), a limit on the amount that the interest rate can increase or decrease over the life of the mortgage.

Lifetime Payment Cap For an adjustable - rate mortgage (ARM), a limit on the amount that payments can increase or decrease over the life of the mortgage.

For an adjustable rate mortgage (ARM), a limit on the amount that payments can increase or decrease over the life of the mortgage.

Lifetime Payment Cap For an adjustable - rate mortgage (ARM), a limit on the amount that payments can increase or decrease over the life of the mortgage.

Not exact matches

A mortgage refinance can lower your monthly payments and decrease the amount of interest paid over the life of your home loan.

So what can you do to decrease the amount of money paid out of your pocket over the life of a home mortgage?

Refinancing your mortgage may help you lock in a lower interest rate on your outstanding balance — potentially lowering your monthly payments and decreasing the total amount of interest you pay over the life of your loan.

Another thing to consider is that a mortgage life insurance policy is often written as a decreasing term policy, so the death benefit decreases over time, (just as your mortgage payoff amount decreases as you pay your monthly mortgage payments), but the premium remains the same over the life of the policy.

Lifetime Rate Cap For an adjustable rate mortgage (ARM), a limit on the amount that the interest rate can increase or decrease over the life of the loan.

Decreasing term life insurance is sometimes called «mortgage insurance» because it is designed to cover liabilities that decrease over a specified period of time.

For an adjustable rate mortgage (ARM), a limit on the amount that the interest rate can increase or decrease over the life of the loan.

Lowering the interest rate on your mortgage lowers your monthly payment, and decreases the amount of interest you will pay over the life of your mortgage.

Decreasing term life insurance is sometimes called «mortgage insurance» because it is designed to cover liabilities that decrease over a specified period of time.

Since your mortgage decreases over time, they're typically offering a form of decreasing term life insurance.

Decreasing term life insurance, also known as mortgage insurance, has a constant premium amount but the death benefit declines at a set rate over the course of the policy.

Decreasing term life insurance — sometimes called «mortgage insurance» — offers a death benefit that shrinks over time, and a premium that remains the same for the duration of the policy.

After the first five years, the death benefit, which is meant to behave similar to your mortgage, decreases over the life of the policy.

Another thing to consider is that a mortgage life insurance policy is often written as a decreasing term policy, so the death benefit decreases over time, (just as your mortgage payoff amount decreases as you pay your monthly mortgage payments), but the premium remains the same over the life of the policy.

These types of mortgage life policies are a good choice for those who have an interest only mortgage where the amount of the principal balance does not decrease over time.

Like your mortgage balance, the death benefit decreases over the life of the policy, but it will never fall below 20 % of the original value, while premiums remain level.

Depending on the type of insurance policy, the death benefit may decrease over time, such as with credit life insurance purchased to cover a home mortgage that decreases as the mortgage is paid off.

The death benefit on mortgage life insurance will decrease over time, with the face value always being approximately equal to the payoff amount of the mortgage.

Reducing term life insurance was at one time predominantly used for mortgage insurance, but as level term life insurance premiums decreased over the years, it has become the policy of choice for mortgage insurance.

With mortgage life insurance, the premiums may remain the same, but the value of the policy decreases over time as the balance of your mortgage declines.

Term insurance offers you much lower premiums, but the amount of life insurance protection doesn't decrease over time, as it usually does with mortgage protection insurance.

These policies are issued for an amount equal to the balance of the mortgage, and the coverage decreases in value over time, making them a form of decreasing term life insurance.

A decreasing value term life insurance life policy such as mortgage insurance has the drawback of having equal premiums throughout the course of the policy while the face value of the policy decreases over the same period.

Another type of term life insurance is called a decreasing term life policy and is specifically designed for things such as a mortgage, where the account balance decreases over time.

Lifetime Rate Cap For an adjustable - rate mortgage (ARM), a limit on the amount that the interest rate can increase or decrease over the life of the loan.