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Level pay

• The characteristic of the scheduled principal and interest payments due under a mortgage such that total monthly payment of P&I is the same while characteristically the principal payment component of the monthly payment becomes gradually greater while the monthly interest payment becomes less.

 
 Embedded terms in definition
 Interest payments
Interest
Mortgage
P&i
Principal
 
 Related Terms
 Confidence level
Level coupon bond
Pay up
Reporting level or reporting position level
Resistance level
Support level
Take or pay contract

<< Level coupon bond Levels i, ii and iii >>

Beware of fraud originating in phone messages and faxes: FDIC Consumer News has warned before about crooks who call or e-mail consumers and pretend to be legitimate companies or government agencies wanting people to "verify" or "resubmit" (divulge) confidential information such as bank account or credit card numbers as well as Social Security numbers, passwords and personal identification numbers. Here are variations to know about. More...

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