level-payment mortgage

level-payment mortgage definition - business

level-payment mortgage

A self-amortizing real estate loan with fixed periodic payments. A portion of each payment covers interest, and the remainder reduces the outstanding principal of the loan.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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