Amortized Loan

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Amortized Loan

A loan with the same payment each pay period. In an amortized loan, different amounts go to principal and interest each month. This allows the lender to receive the full amount of interest while also keeping periodic payments equal. See also: Self-Amortizing loan.
References in periodicals archive ?
Discount Title Loan offers 14-day & 30-day balloon loans as well as 4-6 month amortized loans in the $125-$10,000 range without credit checks or bank account requirements.
And there are other lending products such as Fannie Mae and FHA, which allow 25-35 year fully amortized loans.
The 7(a) loan program is a popular SBA program offering up to 10-year fully amortized loans, which can mean lower monthly payments for the borrower.
The program offers up to 25-year, fully amortized loans that result in lower monthly payments for the borrower.
The 7(a) loan program is the most popular SBA program, and offers up to 25-year, fully amortized loans, which means lower monthly payments for the borrower.
They offer below market interest rates for two or three or five years, with no reduction of principal, and then convert automatically into fully amortized loans for the balance of the 30 year term.
The SBA 7(a) loan program offers up to 25-year, fully amortized loans that result in lower monthly payments for the borrower.
The SBA 7(a) loan program offers 25-year, fully amortized loans that result in lower monthly payments for the borrower.