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- Additional principal payment
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Additional principal payment
Extra money included in the monthly payment to help reduce the principal and shorten the term of the loan.
Related Terms
Negative amortization
Balloon loan
Original principal balance
PITI (Principal Interest Taxes Insurance)
Collateral security
Effective gross income
Payment cap
Late payment
Standard payment calculation
Low-down-payment loan
Graduated-payment mortgage (GPM)
Wraparound mortgage
Balloon payment
Principal
Remaining balance
Amortization
Net cash flow
Add-on interest
Interest-only loan
Annual mortgagor statement
Growing-equity mortgage
Compound interest
No cash-out refinance
Annuity
Fixed installment
VA loans
Draw
Grace period
Trade equity
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