If you are borrowing money from a bank, here are some terms and tips and things we would recommend you knowing about and getting in place if possible:
Interest Rate Ceiling:
This is the highest interest rate allowed in your Note. (ex: at no time can the interest rate ever be higher than X%)
Periodic Cap:
This is the highest your rate can go up in any certain period. (ex: each time the interest rate changes, it may not increase by more than X%)
Fixed Rate:
Get a fixed rate loan if possible. These will give you the greatest protection.
GIVE US A CALL IF YOU HAVE MORE QUESTIONS ON LOAN TERMS.