what is...

RATE A percentage of the monthly mortgage payment paid to the lender. ALSO SEE: INTEREST ACCRUAL RATE, ONE-YEAR ADJUSTABLE, FIXED RATE MORTGAGE, ADJUSTMENT INTERVAL, WRAPAROUND MORTGAGE, ASSUMABLE MORTGAGE, CONVERSION OPTION, BALLOON MORTGAGE, MONTHLY PAYMENT, NEGATIVE POINTS, INTEREST RATE, TEASER RATE, FLOAT-DOWN, REFINANCE, 3.95% ARM, BUY-DOWN, FLOAT, COFI, LOCK, APR, ARM