Sentences with phrase «against your principal balance»

Your Double - Up payment is applied directly against the principal balance of your mortgage, which cuts down the life of your mortgage and saves interest costs.

The entire amount of these payment increases is applied directly against your principal balance.

Not exact matches

PMI protects lenders against the risk that the value of the home will fall below the outstanding principal balance on the mortgage, leaving the borrower «underwater» on the loan.

Complementing traditional investments, Ross points out that real estate is less volatile (unlike stocks, it's not marked to market every day); provides diversification with a favorable balance of risk versus return; is favorably taxed via capital gains tax treatment and interest deductibility; generates returns similar to the stock market and «often more»; provides principal protection; a hedge against inflation and a pension - like «monthly coupon.»

If the original payment schedule shows your balance at last dropping below 78 % of the purchase price 60 months after purchase, then that's the soonest the lender must drop PMI, even if you've made extra payments against principal.

If your goal is to find a cost effective balance, you should determine the sweet spot where each payment pays down more principal than interest (25 years or lower amortization) and invest the money you would have put against the mortgage into a higher yield option.

As of November 1, 2012, FDIC Insured Cash Balances are eligible for FDIC insurance up to $ 250,000 (including interest and principal) per individual depositor and up to $ 500,000 per joint depositors, subject to the limitation that such amounts are aggregated against all other similarly held deposits at Capital One, N.A. for purposes of calculating FDIC insurance limits.

What Dr. Gurner didn't realize is that while her payments were, indeed, more manageable, she was only paying against interest, not putting a dent in the principal balance she owed.

This is because if the owner later decides to turn their PPOR into an investment property they are able to withdraw the cash from the offset account and claim all of the associated interest costs on their outstanding loan as a tax deduction (because the deductibility of interest costs are capped to the lowest principal balance the loan has ever been at whilst the property was a PPOR) whilst using the cash to offset against the new PPOR mortgage which is generating non tax - deductible interest.

A mortgage customer who already has their loan closed and is currently being serviced can often elect to apply a lump sum of money against their existing principal balance and, rather than simply reducing what they owe on the loan, they end up with a reduced monthly payment.

Apply the grant against the unpaid principal mortgage balance of an adapted home already acquired without the assistance of a VA grant

Fourth, in § 160.203, several criteria relating to the statutory grounds for exception determinations have been further spelled out: (1) The words «related to the provision of or payment for health care» have been added to the exception for fraud and abuse; (2) the words «to the extent expressly authorized by statute or regulation» have been added to the exception for state regulation of health plans; (3) the words «of serving a compelling need related to public health, safety, or welfare, and, where a standard, requirement, or implementation specification under part 164 of this subchapter is at issue, where the Secretary determines that the intrusion into privacy is warranted when balanced against the need to be served» have been added to the general exception «for other purposes»; and (4) the statutory provision regarding controlled substances has been elaborated on as follows: «Has as its principal purpose the regulation of the manufacture, registration, distribution, dispensing, or other control of any controlled substance, as defined at 21 U.S.C. 802, or which is deemed a controlled substance by state law.»

In fact, if you do not repay principal even till maturity / death, LIC will automatically square off the outstanding loan amount against maturity / death benefit and pay the balance to you / your nominee.

The buyer signs a promissory note and trust deed agreeing to pay the seller a certain amount each month to be applied against the principal, plus an agreed upon interest amount at a specified rate on the unpaid balance.

«It takes time for homeowners to recover their upfront costs in buying a home through a combination of appreciation, savings against rent and a lower principal balance,» said Brian Davis, co-founder of Spark Rental.