Term Loan
Definition of "Term loan"
- Intermediate - to long-term collateralized loan granted to a business by a commercial bank, insurance company, or commercial finance company such as to finance the purchase of real estate. The loan is amortized over a fixed period.
- Loan requiring only interest payment until the last day of its term, at which time the full payment due.
Popular Real Estate Terms
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Recurring obligation or assurance given. ...
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Legal obligation to pay taxes associated with owning property or earning income. For example, a real estate owner must pay property taxes. ...
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