BRAND NAME(S): Cardura. USES: Doxazosin is used alone or with other drugs to treat high blood pressure (hypertension). Lowering high blood pressure helps prevent strokes, heart attacks, and kidney problems.
DEFINITION of 'ARM Index'. The benchmark interest rate to which an adjustable rate mortgage is tied. An adjustable rate mortgage's interest rate consists of an index value plus a margin. The index underlying the adjustable rate mortgage is variable, while the margin is constant. There are several popular indexes used for different types of adjustable rate mortgages. This is also referred to as the fully indexed interest rate.
For ARM loans, you calculate the repayment ability based on what the payment would be at the fully indexed rate at the consummation of the loan. You do not have to take the worst case scenario into consideration. First published on BankersOnline.com 12/07/09.