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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

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