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Cap

A limit on how much an adjustable rate mortgages monthly payment or annual interest rate can increase. A cap is meant to protect the borrower from large increases and may be a payment cap, an interest cap, a life-of- loan cap or periodic cap. A payment cap is a limit on the monthly payment. An interest cap is a limit on the amount of the interest rate. A life-a-loan cap restricts the amount the interest rate can increase over entire term of the loan. A periodic cap limits the amount the interest rate can change each interest rate adjustment date.

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They made it an easy process in purchasing my home. Very organized and thorough. I closed on my new home exactly 30 days from my accepted offer. I would recommend this company to all my friends and relatives. They are a great company to have help you with the biggest most important purchase you will make.

Malissa Kanizar
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Tom and his team were great through the whole process. They were always there night or day. I would definitely work with them again.

Don Feges
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After having trouble getting approval to refinance my home, Tom and his team made it happen. I can't thank him/them enough for their friendly professionalism. Was a true pleasure to have HomeTown Lenders and the Faille Team complete this very necessary refinance, in a timely fashion.

Elaine Zenere
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Tom and his team of experts are a great lender and helped me through the whole process along with educating me about the housing market as well. Him and his team were available most of the time whenever I was confused or had questions as well.

Muhammad Tabani
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From start to finish Tom and his team were fantastic to work with. They always answered any questions I had returned my phone calls and explained everything going on. They were able to have me close on the home I purchased in 30 day’s which I asked him to do and he was a man of his word. I would highly recommend Tom and his team to everybody I do not have one complaint about them it was a great experience.

Jason
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Tom and his team were amazing through the whole process all the way down to closing! They always got back to me quickly with answers to any questions I had which were a lot. I was super nervous and was working with limited time and they literally went above and beyond to help me and I can not Thank them enough! I highly recommend them to anyone starting the process to purchase their new home!

Kimberly Krick
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Tom and his team were great through the entire process. They have an awesome app that helped us through the process as well. I highly recommend using Home Town Lenders for your home purchase!

Mark Goddard
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Thomas Faille's team did a great job! They were professional, knowledgeable and always responsive. They were able to guide me and my family purchasing new home without stress.

Christian

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