to prepay the loan
1prepay — prepayable, adj. prepayment, n. /pree pay /, v.t., prepaid, prepaying. to pay or arrange to pay beforehand or before due: to prepay the loan. [1830 40; PRE + PAY1] * * * …
2prepay — pre‧pay [ˌpriːˈpeɪ] also pre pay verb [intransitive, transitive] 1. to pay for something before you get it or before you use it : • Don t pre pay for vacations that carry heavy penalties if canceled. 2. FINANCE i …
3loan — money lent at interest.A lender makes a loan with the idea that it will be paid back as agreed and that interest will be paid for the use of the money. Glossary of Business Terms Temporary borrowing of a sum of money. If you borrow $1 million you …
4prepay — pre·pay /prē pā/ vt pre·paid, pre·pay·ing: to pay or pay the charge on in advance (as of date due or maturity date) no penalty for prepay ing your student loan pre·pay·ment n Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …
5Mortgage loan — Mortgage redirects here. For other uses, see Mortgage (disambiguation). Finance Financial markets …
6Defeasance — Contents 1 Defeasance of Commercial Mortgage Loans 1.1 Defeasance of a Securitized Commercial Mortgage Loan 1.2 Defeasance Terms to Consider at Loan Origination …
7Contraction Risk — The risk faced by the holder of a fixed income security when borrowers increase the rate at which they pay back the maturity value of the fixed income security. Contraction risk is a component of prepayment risk that increases as interest rates… …
8Mortgage-backed security — Securities Securities Bond Stock Investment fund Derivative Structured finance Agency security …
9Adjustable-rate mortgage — A variable rate mortgage, adjustable rate mortgage (ARM), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit… …
10Fixed rate mortgage — A fixed rate mortgage (FRM) is a mortgage loan where the interest rate on the note remains the same through the term of the loan, as opposed to loans where the interest rate may adjust or float. Other forms of mortgage loan include interest only… …
