Level Payment Mortgage


Definition of "Level payment mortgage"

Heidi Everywhere Group real estate agent
Heidi Everywhere Group Engel & Volkers

Each payment made by the borrower is equal each period, usually monthly. Each payment is comprised of principal and interest. Interest is based on the beginning balance. The cash paid less interest represents the reduction in principal.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Holding Period Return (HPR)

The total return from holding a real estate investment for the holding period of time. The computation follows: For a mutual fund investing in a ...

Contract Rate

Stated rate of interest on the face amount of a loan or installment note. ...

Note

A legally transferable debt instrument by which the issuer agrees to pay the payee within a certain time period. Note usually pay a specified rate of ...

Federal Home Loan Mortgage Corporation (FHLMC)

Is a stockholder-owned corporation known as Freddie Mac. Freddie Mac purchases investment-quality mortgage from lenders and packages from lenders and ...

Insurable Interest

A relationship with a person, thing, or item that is the foundation of an insurance policy. One having an insurable interest has a financial stake in ...

Securities And Exchange Commission (SEC)

Federal government agency monitoring and regulating corporate financial reporting and disclosure, use of accounting principles, auditing practices, an ...

Popular Real Estate FAQ

What Is A Credit Report?

A credit report is a report of all your debt information compiled by an independent agency. The credit report shows all outstanding debt as well as a ...

What Does An Appraisal Mean?

An appraisal is an estimate of the value of a certain property by a qualified, independent individual. ...

What Is A Treasury Index?

A treasury index is an index used to determine interest-rate changes for certain adjustable-rate mortgages (ARMs). This index is based on the results ...

What Is A Housing Ratio?

A housing ratio is the percentage of your housing payment (principal, interest, taxes, and insurance) to your monthly gross income. Lenders use this r ...

I Dont Know The Zip Code Of My Areas. How Do I Find An Agent That Is Right For Me In My Area.

Please refer to our directory, where you will be able to browse using Counties and/or Cities. ...

What Is An Amortization?

The process of paying off a loan balance. As you make payments, a certain amount is applied to the principal and a certain amount to the interest. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add real estate terms app
on your Website

Real Estate Advice

Spring Landscaping Ideas to Improve Curb Appeal and Sell Your House DIY Home Improvement to Increase Your Home Value Moving Tips: House Relocation Stress Free Increase Your Home Value With These Home Improvement Ideas Down Payment: Everything You Wanted to Know

FAQ

What is underwriting? What is the difference between a real estate broker and a real estate agent? What type of Life Insurance is right for me? What is an annuity? Why should I use a real estate agent?