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Partially Amortized Loan – partially amortized loan Real Estate License Exam Study Guide AgentExamPass.com

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Partially Amortized Loan – Most Popular?

partially amortized loan

loan not fully paid by end of loan term

If a partially amortized loan term is ten years, for example, and the ten years ends and all payments where made on time, there would still be a balance due on the loan, often due in a balloon payment. Why would anyone want a partially amortized loan? Because for some reason they need the lowest payment possible. Short term loans like construction loans might be partially amortized loans because there purpose is to bridge a time period before permanent financing can be established. A partially amortized loan is one which is not fully paid at the completion of its term. Antonyms: fully amortized loan Related Words: balloon payment, bridge loan

Multiple Choice Question

partially amortized loan
A loan with an illegally high interest rate
B loan not fully paid by end of loan term
C how an individual takes ownership of real property
D loan fully paid off at the end of the life of the loan

Correct Answer: b

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This word appears in the book Vocab-U-Bee California CA Real Estate License Exam Top Pass Words

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