The amount of the loan is called the principal.
The principal balance is the original amount borrowed, while the outstanding balance is the amount still owed on the loan after payments have been made.
The outstanding principal balance on a loan is the amount of money that still needs to be repaid to the lender, not including any interest or fees.
The outstanding principal amount on a loan is the remaining balance that has not yet been paid back.
The balance on a consolidation loan is based on the outstanding balances of your debt, not on the total amount of your revolving credit lines.
A loan amortization schedule is basically a calculator, its an outstanding balance calculation, and is used so that during a loan the balance which is owed can be calculated at any time.
Periodic payments against an outstanding loan balance that do not pay off the entire outstanding loan balance.
The principal balance is the original amount borrowed, while the outstanding balance is the amount still owed on the loan after payments have been made.
The outstanding principal balance on a loan is the amount of money that still needs to be repaid to the lender, not including any interest or fees.
The outstanding principal amount on a loan is the remaining balance that has not yet been paid back.
The balance on a consolidation loan is based on the outstanding balances of your debt, not on the total amount of your revolving credit lines.
A loan amortization schedule is basically a calculator, its an outstanding balance calculation, and is used so that during a loan the balance which is owed can be calculated at any time.
The balance of a loan depends on the original contract rate, whereas the market value of the loan depends on the current market interest rate.
The outstanding principal balance is the amount of money you still owe on a loan, while the payoff amount is the total amount needed to pay off the loan in full, including any interest or fees that may have accrued.
Contact your lender to obtain the outstanding balance.
foreclosure is a conditon where a lender (the bank) acquires title to and uses the value of the property to offset the outstanding balance of the loan. If your property goes into foreclosure you will LOSE ownership of that property but will also no longer owe the unpaid balance of the loan. This is called 'defaulting' on your loan.
Any loan where the loan balance is not paid off by fixed, regular payments. A balloon loan is a simple example. The loan comes due before the balance has been paid off. The outstanding balance is then paid in one lump sum. A fully amortizing loan is a loan with a monthly payment of sufficient size and a term long enough that the outstanding balance of the loan will be reduced (amortized) to zero. In other words, on the maturity date of the loan (the date you can stop making payments), there is no outstanding loan balance to be paid off. The loan has been paid in full. A portion of each monthly payment was used to pay interest on the outstanding balance. The remainder of each monthly payment was applied to the loan balance as a repayment of principal. There is no "opposite" of this. There are alternatives. A loan could be interest only -- where the entire monthly payment represents interest and there is no amount of it applied to the loan balance. As such, on the maturity date of the loan (the end of the loan term), the payoff balance due to the lender is identical to the original loan amount. There has been no amortization of the loan balance during the term of the loan. Another alternative is a loan based on 20 year amortization but with a 5 year term. In this case, the loan payment is established by the amount that would be required to fully amortize the loan over a 20 year period (down to a balance of zero). However, at the end of 5 years, the loan matures (the end of the term) and the remaining balance must be repaid. That payoff amount will be less than the original loan amount because some amortization has occurred, but is certainly greater than zero (which would have taken another 15 years to reach).
The outstanding principal balance is the amount of money you still owe on a loan, not including interest. It affects your loan repayment schedule because the more principal you have left to pay off, the longer it will take to repay the loan and the more interest you will end up paying over time.