self-amortizing mortgage

(redirected from Amortizing Mortgage)

Self-amortizing mortgage

Mortgage whose entire principal is paid off in a specified period of time with regular interest and principal payments.

Self-Amortizing Mortgage

A mortgage in which the holder pays for part of the principal and the interest each month. A self-amortizing mortgage differs from an interest-only mortgage, in which the holder does not make principal payments over the life of the mortgage. An advantage of a self-amortizing mortgage is the fact that the holder does not have to make a lump sum payment of the principal at maturity (or refinance at a potentially higher interest rate). However, self-amortizing mortgages have higher monthly payments than other mortgage types.

self-amortizing mortgage

See fully amortizing loan.

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12 The distinguishing characteristic of non-amortizing contracts is that they allow the borrower to make a lower payment initially compared with, say, a conventional fixed-rate amortizing mortgage.
The initial five years of the loan will be interest-only and then convert to an amortizing mortgage over a 30-year schedule.
The collateral backing this transaction consists of a pool of 30-year, fixed-rate, fully amortizing mortgage loans secured by first liens on one- to four-family residential properties located primarily in the state of California.
The new term loan includes two successive one year extension options that will allow the company to further extend the loan until October 2017, and is secured principally by fully amortizing mortgage notes on various real properties owned by CapLease.
The collateral consists of 30-year, adjustable-rate, fully amortizing mortgage loans secured by first-liens on residential properties located in the state of California.
The collateral for these transactions consist of 30-year, adjustable rate, fully amortizing mortgage loans, which are secured by first liens on residential properties located in California.
Loan Group 1 consists primarily of 5/1 adjustable rate 30-year fully amortizing mortgage loans totaling $424,410,105 as of the cut-off date, Sept.
The certificates are collateralized by a pool of 30-year, fixed rate, recently originated, conventional, fully amortizing mortgage loans secured by first liens on one- to four-family residential properties.
Loan Group 1 contains 773 loans and consists primarily of 30-year conventional, fully amortizing mortgage loans totaling $456,238,740 as of the cut-off date, September 1, 2007, secured by first liens on one-to four- family residential properties.
Loan Group 1 consists primarily of 30-year conventional, fully amortizing mortgage loans totaling $294,089,792 as of the cut-off date, June 1, 2007, secured by first liens on one- to four-family residential properties.
Planning for the long term, this cooperative chose a 25 year fully amortizing mortgage which closed at an interest rate of 9.
Approximately 57 percent of the initial principal balance are self amortizing mortgage loans and the remainder are balloon loans.