Sentences with phrase «scheduled full monthly payment»

The number of payments for which you receive credit is determined by dividing the amount of your lump - sum payment by your scheduled full monthly payment amount, but you may not receive credit for more than 12 qualifying monthly payments.

Not exact matches

You must make 120 on - time, full, scheduled, monthly payments on your Direct Loans.

If you could not make your full scheduled monthly payment on your traditional loan, your lender would consider you late and then it would ultimately affect your credit rating and if you could not catch up could lead to a foreclosure on the property.

Public Service Loan Forgiveness (PSLF): In order to qualify for PSLF, it is required that the borrower must (1) work full - time at a qualifying public service organization, (2) be enrolled in a qualifying repayment plan, (3) make 120 scheduled monthly payments — paid on time and in full — on his or her Direct Loans.

While a Reverse Mortgage does not require regular scheduled monthly payments, the program does permit a borrower to make voluntary partial or full payments on the loan.

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).

Motorcycle, Snowmobile, ATVs, and Watercraft Loans Late fees of 10 % of the overdue payment of interest and principal are charged if we have not received the full monthly payment 15 calendar days after the scheduled due date.

Recreational Vehicle Loan Late fees of 10 % of the overdue payment of interest and principal are charged if we have not received the full monthly payment 15 calendar days after the scheduled due date.

That's because there is a subtle, but important, difference: By paying on an accelerated bi-weekly schedule, you'll wind up making thirteen full payments each year, resulting in an extra payment — one more than you would make by sending the lender traditional monthly payments.

(b) With respect to the deferral of one or more wholly unpaid scheduled payments in a consumer credit transaction, in which the finance charge was determined by the precomputed method, the creditor may collect, by agreement with the debtor either before or after default, an additional charge for each full month that any wholly unpaid scheduled payments are outstanding after the due date of each scheduled payment equal to that proportion of the finance charge which the amount of the deferred monthly scheduled payment bears to the sum of all monthly balances originally scheduled.

In order to qualify for PSLF, it is required that the borrower must (1) work full - time * at a qualifying public service organization *, (2) be enrolled in a qualifying repayment plan *, (3) make 120 scheduled monthly payments — paid on time and in full — on his or her Direct Loans (only payments made after October 1, 2007 count towards this).

If the first scheduled payment is received on time, then the most recent 24 consecutive scheduled monthly payments must be made on time and in full, or, if the first required payment was not made on time, the most recent 48 consecutive scheduled monthly payments were made on time and in full.

While a Reverse Mortgage does not require regular scheduled monthly payments, the program does permit a borrower to make voluntary partial or full payments on the loan.

A 30 - year amortization schedule breaks down the monthly payments to pay down the full amount over 30 years and a 25 - year amortization is paid over 25 years, etc..