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.
But it occurs in an environment where they also are facing the loss of a job for either or both wage earners, underemployment of either or both wage earners, increasing housing costs as loans move from "teaser" periods to fully amortizing payments, and increased transportation costs as they have to commute longer distances to get to the jobs that they do have.
In this year, the 30-year FRM takes a clear advantage over the option adjustable-rate mortgage (option ARM) when the latter is recast and fully amortizing payments are required.