step loan

step loan

A type of adjustable-rate mortgage under which the interest increases in one or sometimes two steps only,combining some of the best features of a fixed-rate loan and an adjustable-rate loan.

References in periodicals archive ?
The bank said it offers competitive rates to qualified buyers on conventional, jumbo, adjustable rate, and FHA loans and also offers the Right Step loan, which is TD's proprietary alternative to FHA loans.
Tokyo has allowed 100% funding for the project under STEP Loan at 0.
Lloyds says its Easy Step loan is "designed to ease the financial pressure of buying a home".
Regional loans are distinguished into two types namely two step loan which will come from foreign donor via the central government for the regional administrations and in step loan which is a direct loan to the central government via the account for the regional administration, disbursement of foreign loan without the approval of the central government is a breach of law.
Marubeni demanded that the government take over responsibility to repay its loan to CAPC through two step loan arrangement.
Corporate secretary Bambang Suselo said that Telkom have been granted two step loan from the World Bank through the government, amounting to USS .
The loan will be allocated to the Two Step Loan and consulting services for the development of SMEs.
A Step loan needs at least 30% sourcing from Japanese organizations, which was the major bone of contention with DEA.
5 billion facility through a STEP loan is expected to bring in Japanese funding, cutting edge technology and knowhow into projects implemented in DMIC.
I am happy that this year we managed to utilize more than a half of the Untied Two Step Loan Facility signed earlier.
Award of this contract marks the beginning of first step towards implementation of country s most prestigious infrastructure mega project funded through ODA STEP loan of Government of Japan.