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
 Related Terms
 Confidence level
Level coupon bond
Pay up
Reporting level or reporting position level
Resistance level
Support level
Take or pay contract

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