Sentences with phrase «principal in a lump»

After you put out your own money for the down payment, the banks will return a percentage of your mortgage principal in a lump sum when your mortgage closes.

At the term's end, the borrower pays all the accrued interest and underlying principal in lump sum.

At the term's end, you'll have to pay the accrued interest and underlying principal in a lump sum.

For example, you can trade stocks with the cash you would have paid toward the principal on a conventional mortgage and then use the profits to pay some of the principal in a lump sum.»

Not exact matches

Another example would be a young widow with small children receiving a lump - sum settlement from her husband's life insurance policy and can not risk losing the principal; although growth would be nice, the need for cash in hand for living expenses is of primary importance.

Perhaps you expect to receive a future lump sum and want the choice to pay down principal and receive an immediate decrease in payments.

Although you may save the most by paying off the loan in a lump sum, most people decide between — or combine — available options, including increasing the monthly payment, making biweekly payments or making additional, separate principal payments.

However, in order to compensate for this lack of principal repayment, at the end of the repayment program, the borrower will have to pay a lump sum equivalent to the remaining of the principal that is still owed to the lender.

If Gabriel wants to pay down the mortgage on their principal residence quicker, he could make an annual lump sum prepayment of $ 85,000 for each of 2015 and 2016, leaving the remaining $ 23,500 in an emergency cash fund.

The following features are prohibited from high - fee, high - rates loans: 1) All balloon payments - where the normal payments do not pay off the principal balance in full and a lump sum payment of more than twice the amount of the normal payments is required - for loans with less than 5 yr.

At the end of the accumulation period, you can receive the principal and any earnings in one lump sum when the contract is surrendered (i.e., cashed in), or you may be able to exchange the deferred annuity for an immediate annuity.

But in order to do so you need to save a significant amount of money and make a lump mortgage payment every 4 or 6 months in order to reduce the principal.

A business loan resembles a mortgage, in that the borrower receives a lump sum and then repays principal and interest periodically, usually monthly — although some commercial lenders offer more frequent repayments.

The upfront premium is paid in a lump sum at closing or added to the loan balance, unlike the monthly premium, which is paid over the life of the loan in addition to the interest and principal.

The company pays only the interest on the bond until maturity, at which time the principal is paid in one lump sum.

The principal of the loan is repaid in a lump sum at the end of the loan period.

In contrast to installment loans, short - term loans are repaid in a single, lump - sum payment at the end of your loan length that includes both the principal and applicable finance feeIn contrast to installment loans, short - term loans are repaid in a single, lump - sum payment at the end of your loan length that includes both the principal and applicable finance feein a single, lump - sum payment at the end of your loan length that includes both the principal and applicable finance fees.

If you end up getting very far ahead in your principal payments thanks to large lump sum payments, it may make sense to look into recasting.

The changes included limitations on the amounts that can be drawn in the first year, the option to receive a smaller one - time single lump sum disbursement, as well as changes to the mortgage insurance premium, the principal limit factor tables, and requiring a financial assessment of borrowers» ability to pay future property taxes and insurance obligations.

The cost can be paid in a single lump sum, but CMHC says the amount is often added to the mortgage principal and repaid over the life of the loan.

«This lump sum goes directly toward the principal and not towards the interest, so will allow you to save a lot of money in terms of interest,» he said.

Lump - sum payments go straight toward principal, saving thousands of dollars in interest and shaving years off your mortgage amortization.

If you want to use your income tax refund, a salary bonus or other lump sum to make a large dent in your principal balance, keep the interest cycle in mind.

In this case, the missionaries travel insurance would provide a lump sum amount to the beneficiary, and pay for the transportation expenses to send mortal remains home to their principal residence.

In the event of Permanent Total Disablement of an INSURED PERSON as a result of an Accident that incapacitates him to follow his own / similar / any occupation, a lump sum amount equivalent to the PRINCIPAL SUM shall be paid (Deferment Period: 12 months).

You accumulate the principal for your deferred variable annuity over a period of time by depositing money into the plan at intervals or in one lump sum.

Interest and fees are likely to be forgiven in lump - sum settlements, however the principal will still need to be paid.

Making an extra $ 10,000 lump - sum payment toward the principal balance on our mortgage sample above would pay off the mortgage two years and four months earlier, saving you $ 19,000 in interest.

By adding an additional amount to a monthly principal payments or making an additional yearly lump sum payments, homeowners gain thousands of dollars in equity.