P&I

(redirected from Principal and Interest Payments)

P&I

The principal and interest on a loan. The borrower must pay the principal and interest according to the agreed-upon schedule. See also: PITI, Amortization.

P&I

Abbreviation for principal and interest, being the two components of all payments under an amortizing mortgage loan.

References in periodicals archive ?
Since his client has separate principal and interest payments, once the principal is reduced, his lender will also reduce the amount of the payments.
4% of the mortgage loans have interest only payments scheduled, with principal and interest payments beginning on the first interest rate adjustment date.
The rating also reflects the sufficient level of Authority contribution to cover costs of issuance and the initial deposits to the following accounts: an Escrow Reserve Account to cover a portion of principal and interest payments on certain classes of certificates; a Principal and Interest (P&I) Reserve Fund as a reserve for payment of principal and interest on all classes of certificates; a FNMA Reserve Fund for payment of principal and interest on those certificates collateralized by FNMA certificates; and a Subsidy Escrow Account with advance funding of three months of mortgage interest rate subsidies.
34% of the mortgage loans in Pool IV have interest only payments scheduled during the 10 year fixed-rate period, with principal and interest payments commencing after the first rate adjustment date.
84% of the mortgage loans in pool IV have interest-only payments scheduled during the 10-year fixed-rate period, with principal and interest payments commencing after the first rate adjustment date.
79% of the mortgage loans in Pool IV have interest only payments scheduled during the 10 year fixed rate period, with principal and interest payments commencing after the first rate adjustment date.
53% of the mortgage loans in Pool I have interest only payments scheduled during the three year fixed rate period, with principal and interest payments commencing after the first rate adjustment date.
43% of the mortgage loans in Pool II have interest only payments scheduled during the five year fixed rate period, with principal and interest payments commencing after the first rate adjustment date.
09% of the mortgage loans in Pool I have interest-only payments scheduled during the three-year fixed-rate period, with principal and interest payments commencing after the first rate-adjustment date.
43% of the mortgage loans in Pool II have interest-only payments scheduled during the five-year fixed-rate period, with principal and interest payments commencing after the first rate-adjustment date.
20% of the mortgage loans in Pool II have interest only payments scheduled during the three year fixed rate period, with principal and interest payments commencing after the first rate adjustment date.
However, when income sensitive payments are less than standard principal and interest payments, borrowers may receive annual extensions of their repayment term, by up to five years while scheduled income sensitive payments must equal at least interest that accrues each month, Sallie Mae will make additional payment relief available to borrowers who need it.