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Qualification Rate |
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Qualification Rate The interest rate used in calculating the initial mortgage payment in qualifying a borrower. The rate used in qualifying borrowers may or may not be the initial rate on the mortgage. On FRMs with Temporary Buydowns, the qualifying rate is the “bought down” rate. On ARMs, the borrower may be qualified at the Fully Indexed Rate rather than the initial rate. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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