The initial fixed rate is often called a "teaser" rate, because the interest rate was typically scheduled to rise two or more percentage points after.
LG9 5-49 Teaser Rate Mortgage A mortgage broker is offering a $183,900 30-year mortgage with a teaser rate. In the first two years of the mortgage, the borrower makes monthly payments on only a 4 percent apr interest rate. After the second year, the mortgage interest rate.
If you have the funds to put down initially, then the Citizens Access six-month CD is a great option. Here’s why: it has a 2.00% APY, no fees, and promises of no teaser rates. This CD is also FDIC-insured and has flexible interest payout options – you can choose to add it to the principal of your CD or have it transferred to a linked account.
· VA Cash-Out Refinance Home Loans. This could make sense if you qualify for a lower interest rate on a VA loan. The maximum you can borrow is 100 percent of the equity in your home. So, if your home is worth $200,000 and your outstanding VA loan is $100,000, you could take out up to $100,000 in cash for the refinance.
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Watch out forWhen one lender is offering a significantly lower rate than all the rest, it’s probably either an introductory rate or an index rate which isn’t yet connected to the lender’s margin. These low rates only last a short time without rising and possibly catching you off guard if you haven’t done the math.
teaser rate – A low initial interest rate on an adjustable rate mortgage to entice borrowers, that is later eliminated and replaced by a market level rate. An introductory rate (also known as a teaser rate) is an interest rate charged to a customer during the initial stages of a loan.
Initial Interest Rate – Sometimes known as the teaser rate, it is the first interest rate charged on the mortgage. (On an adjustable-rate mortgage, this rate may be for as long as five years or as short as one month depending on the loan terms.)