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MORTGAGE GLOSSARY
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| 2 | A | C | D | E | F | H | I | L | M | N | O | P | R | S | T | U | |
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| initial interest rate | in the HECM program, the interest rate that is first charged on the loan beginning at closing; it equals the one-year rate for U.S. Treasury Securities, plus a margin |
1030 West County Road E, Suite 150
Shoreview, MN 55126Phone: 651-209-2900
Toll free: 1-866-321-1516
Fax: 651-209-2929
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