What is Capped Mortgage Commitment
What is Capped Mortgage Commitment A capped rate mortgage commitment refers to a mortgage agreement in which the interest rate has an upper limit or cap for a specified period. This type of mortgage provides some level of predictability and protection for the borrower, ensuring that the interest rate will not exceed a predetermined maximum level during the capped period, even if market interest rates rise. Capped rate mortgages are widely used in pre-construction home…