What Does Loan Term Mean
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loan the advance of a specified sum of MONEY to a person or business (the BORROWER) by other persons or businesses, or more particularly by a specialist financial institution (the LENDER) which makes its profits from the INTEREST charged on loans.
LOAN (noun) The noun LOAN has 2 senses: 1. the temporary provision of money (usually at interest) 2. a word borrowed from another language; e.g. ‘blitz’ is a German word borrowed into modern English. Familiarity information: LOAN used as a noun is rare.
A loan’s term can refer to the length of time that you have to repay, or to specific features in your loan (like rates, required payments, and more).
Loan refinancing refers to the process of taking out a new loan to pay off one or more outstanding loans. Borrowers usually refinance in order to receive lower interest rates or to otherwise reduce their repayment amount. For debtors struggling to pay off their loans, refinancing can also be used to get a longer term loan with lower monthly.
The ability for a company or lending institution to "term out" a loan is an important strategy for debt management and normally occurs in two situations.
The aggregate loan limits include any Subsidized federal stafford loans or Unsubsidized Federal Stafford Loans you may have previously received under the Federal family education loan (ffel) program. As a result of legislation that took effect July 1, 2010, no further loans are being made under the FFEL Program .
Mortgage Amortization Bankrate Do you think making two payments a month for your mortgage is a good idea?. According to Bankrate, some people believe that making biweekly. to the loan's amortization schedule and will be eventually paid off. more.
With a loan, for example, it just means the end of your borrowing term. When you sign for a loan, it’s important to understand what happens at maturity.
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Loan terminology glossary. Amortization: Loan payments by equal periodic amounts calculated to pay off the debt at the end of a fixed period, including accrued interest on the outstanding balance. Amortized Loan: A loan to be repaid, by a series of regular installments of principal and interest, that are equal or nearly equal,