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  2. Interest-only loan - Wikipedia

    en.wikipedia.org/wiki/Interest-only_loan

    An interest-only loan is a loan in which the borrower pays only the interest for some or all of the term, with the principal balance unchanged during the interest-only period. At the end of the interest-only term the borrower must renegotiate another interest-only mortgage, [ 1 ] pay the principal, or, if previously agreed, convert the loan to ...

  3. Principal balance - Wikipedia

    en.wikipedia.org/wiki/Principal_balance

    The principal balance, in regard to a mortgage, loan, or other debt financial contractual agreements, is the amount due and owed to satisfy the payoff of an underlying obligation. It is distinct from, and does not include, interest or other charges.

  4. Collateralized mortgage obligation - Wikipedia

    en.wikipedia.org/wiki/Collateralized_mortgage...

    The interest payment that would have accrued to the Z tranche is used to pay off the principal of other bonds, and the principal of the Z tranche increases. The Z tranche starts receiving interest and principal payments only after the other tranches in the CMO have been fully paid.

  5. Mortgage - Wikipedia

    en.wikipedia.org/wiki/Mortgage

    Balloon payment mortgages have only partial amortization, meaning that amount of monthly payments due are calculated (amortized) over a certain term, but the outstanding principal balance is due at some point short of that term, and at the end of the term a balloon payment is due.

  6. Amortization schedule - Wikipedia

    en.wikipedia.org/wiki/Amortization_schedule

    First, there is substantial disparate allocation of the monthly payments toward the interest, especially during the first 18 years of a 30-year mortgage. [3] In the example below, payment 1 allocates about 80-90% of the total payment towards interest and only $67.09 (or 10-20%) toward the principal balance. The exact percentage allocated ...

  7. Does Paying Principal Lower Car Payments? - AOL

    www.aol.com/does-paying-principal-lower-car...

    Learn whether paying principal lowers your monthly car payments, find out what paying extra in principal offers, and discover other methods to lower payments.

  8. Bullet loan - Wikipedia

    en.wikipedia.org/wiki/Bullet_loan

    In banking and finance, a bullet loan is a loan where a payment of the entire principal of the loan, [1] and sometimes the principal and interest, [2] is due at the end of the loan term. Likewise for bullet bond. A bullet loan can be a mortgage, bond, note or any other type of credit.

  9. Mistakes to Avoid When Paying Off Debt - AOL

    www.aol.com/finance/mistakes-avoid-paying-off...

    If debt is dragging you down as the Fed hikes rates, start getting rid of it — but be smart about how you do it or you could wind up depressed and owing more money than ever.