Fully Amortizing Payment

Fully Amortizing Payment

The monthly mortgage payment which, if maintained unchanged through the remaining life of the loan at the then-existing interest rate, will pay off the loan at term.

See Amortization/Fully Amortizing Payment.

References in periodicals archive ?
Thus, even though they may be qualified at a fully amortizing payment based on the fully indexed rate, some doubt still remains about the ability of borrowers to pay because their income is simply stated and not documented.