Remaining principal balance

(redirected from Remaining Principal)

Remaining principal balance

The amount of principal dollars remaining to be paid under a mortgage as of a given time.

Remaining Principal Balance

The amount of the principal of a loan that a borrower has not repaid. For example, suppose a person borrows $1,000 for a year and repays an equal amount of principal every month in addition to the interest payment. After six months, the remaining principal balance is $500. It should be noted, however, that not all loans have the same amount of principal repayment every month. The remaining principal balance is particularly important in mortgages. See also: Amortization.
References in periodicals archive ?
It had about $10 million in remaining principal outstanding.
Eight candidates will compete on four remaining principal posts that include the secretary-general, the deputy chairman for group work, deputy chairman for planning and development and secretary of popular work.
After ten years, the borrower must continue their original payment plan to pay off the remaining principal.
The mortgage had a remaining principal of about $3.
Borrower repayments generally would be limited to 15 percent of discretionary income, with forgiveness of any remaining principal after 25 years.
Dr McLachlan summed up that good procedures were in place and action was under way to improve performance in the remaining principal areas of concern.
The unsafe rear elevation was removed, along with internal walls and floors, so the new building sits partially enclosed by the massive stone carapace of the remaining principal facade which has been cleaned of accumulated grime and restored.
When you or your beneficiaries die, the gift's remaining principal goes to your designated tax-exempt organization.
Thereafter, NCB charges a fixed penalty equal to 2 percent of the remaining principal amount.
There might be additional burden to institutions from having to comply with two sets of federal requirements on disclosing the remaining principal balances that apply to different categories of loans.