Sentences with phrase «called loan amortization»
This process is called loan amortization.
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The total is then divided into equal payments over the life of the loan using a process called amortization.
On certain ARMs, called negative amortization loans, mortgagees can end up owing more money than they did when they took out the loan.
Mortgage loan repayment works through a process called amortization.
If you have a specific kind of ARM called a negative amortization loan (or NegAm), you may find yourself owing more money than you did at closing.
The size of a mortgage loan payment is calculated based on a length of time you agree to paying off that debt — this is called the amortization period.
The process of fully paying off your loan by installments of principal and interest over a definite period of time is called Amortization.
You'll also learn how your interest rate and payments could change in the future, and whether you'll incur penalties for paying off the loan early (called «prepayment penalty») or increases to the mortgage loan balance even if payments are made on time (known as «negative amortization»).
[71] The way a borrower's payments affect the amount of the loan balance over time is called amortization.