An aggregate rate cap limits the interest rate movement over the entire term of the loan.

Name: An aggregate rate cap limits the interest rate movement over the entire term of the loan.
Brand: Quizplus
Rating: 4.8 (50 reviews)

Question

Quizplus · Accepted Answer

An aggregate rate cap sets a maximum limit on how much the interest rate on a loan can increase over the entire term of the loan. This means that even if there are fluctuations in the interest rate, the total increase by the end of the loan term will be limited by the aggregate rate cap.

An Aggregate Rate Cap Limits the Interest Rate Movement Over