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| Home | Ask Your Question | Mortgage Glossary | ||
AmortizationMeans loan payment by equal periodic payment calculated
to pay off the debt at the end of a fixed period, including accrued interest
on the outstanding balance. Fixed rate 30 year mortgage is fully amortized in 30 years loan. Some ARM loan products allow negative amortization for certain period of time. |
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Related Mortgage Definitions: Negative Amortization Negative Amortization Negative amortization, also known as Neg Amortization, NegAm, NegAmMort, occurs when borrower pays back less than the full amount of interest owed to the lender each month. The difference betweeen full interest and paid amount is added to the total amount ... more... Amortization Amortization Means loan payment by equal periodic payment calculated to pay off the debt at the end of a fixed period, including accrued interest on the outstanding balance. Fixed rate 30 year mortgage is fully amortized in 30 years loan. Some ARM loan products ... more... Untitled Document Defereed Interest When a mortgage is written with a monthly payment that is less than required to satisfy the note rate, the unpaid interest is deferred by adding it to the loan balance. See negative ... more... Graduated Payment Mortgage, GPM Graduated Payment Mortgage, GPM A type of flexible-payment mortgage where the payments increase for a specified period of time and then level off. This type of mortgage has negative amortization built into it. A mortgage that has lower payments initially (with potential ... more... |
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