Sentences with phrase «amortizes over the full term of the loan»
Adjustable Rate Loans An adjustable rate loan amortizes over the full term of the loan although the interest rate may reset, based on the then current margin plus index, annually after the initial period.
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This happens over time simply by making your monthly payments, assuming that they're amortized (that is, based on a payment schedule by which you'd repay your loan in full by the end of the loan term).