Mortgage Dictionary

Select a term from the dropdown text box. The online mortgage dictionary will display a definition, plus links to other related web pages.

Select term:       

Lifetime Cap

A lifetime cap is a type of rate cap used in some adjustable-rate mortgages . It sets limits on the amount that interest rates may rise or fall over the life of the loan.

See also:   Adjustable-Rate Mortgage (ARM) | Periodic Cap