Fully Amortizing Payment

Definition of "Fully Amortizing Payment"

Beverly Richardson Charles Rutenberg Realty Inc.

The monthly mortgage payment which, if maintained unchanged through the remaining life of the loan at the then-existing interest rate, will pay off the loan at term.

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Amortization

The repayment of principal from scheduled mortgage payments that exceed the interest due. The scheduled payment is the payment the borrower is obliged ...

Scheduled Mortgage Payment

The amount the borrower is obliged to pay each period, including interest, principal, and mortgage insurance, under the terms of the mortgage contrac ...

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