Sentences with phrase «principal at a specific date»

An unsecured promise made by the borrower to pay interest and repay the principal at a specific date.

Not exact matches

(A) The term and principal amount of the loan; (B) An explanation of the type of mortgage loan being offered; (C) The rate of interest that will apply to the loan and, if the rate is subject to change, or is a variable rate, or is subject to final determination at a future date based on some objective standard, a specific statement of those facts; (D) The points and all fees, if any, to be paid by the borrower or the seller, or both; and (E) The term during which the financing agreement remains in effect.

The bond will mature (maturity) at some specific date in the future (term) and pays a coupon (interest) on the principal amount over that time.