A type of stepped-payment loan in which the borrower`s payments are initially lower than those on a comparable level-rate mortgage. The payments gradually increase over a predetermined period (usually 3, 5, or 7 years), and then are fixed at a level-pay schedule, which will be higher than the level-pay amortization of a level-pay mortgage originate...
Found on
http://www.duke.edu/~charvey/Classes/wpg/bfglosg.htm
A fixed-rate, fixed-schedule loan. It starts with lower payments than a level payment loan; payments rise annually, with the entire increase being used to reduce the outstanding balance. The increase in payments may enable the borrower to pay off a 30-year loan in 15 to 20 years, or less.
Found on
http://www.encyclo.co.uk/local/20933
A security that has moved from listing on an exchange of less prominence to one of more prominence.
Found on
http://www.encyclo.co.uk/local/22402
- A fixed-rate, fixed-schedule loan. It starts with lower payments than a level payment loan; payments rise annually, with the entire increase being used to reduce the outstanding balance. The increase in payments may enable the borrower to pay off a 30-year loan in 15 to 20 years, or less.
Found on
http://www.homebuildingmanual.com/Glossary.htm
A fixed-rate, fixed-schedule loan. It starts with lower payments than a level payment loan
Found on
https://www.encyclo.co.uk/local/22400
No exact match found.
