Examples of Interest Only Loan in a sentence

Interest on an Interest Only Loan or a Principal and Interest Loan will be added to the Loan on each Date for Payment (or on such other date as the Lender shall elect).
Default Interest on an Interest Only Loan or a Principal and Interest Loan will be added to the Loan on each Date for Payment (or on such other date as the Lender shall elect).

More Definitions of Interest Only Loan

Interest Only Loan means a Loan which, by its terms, requires the related Mortgagor to make monthly payments of only accrued interest for a certain period of time following origination. After such interest-only period, the loan terms provide that the Mortgagor’s monthly payment will be recalculated to cover both interest and principal so that such Loan will amortize fully on or prior to its final payment date.

Interest Only Loan means any Mortgage Loan as to which scheduled payments only include interest for an initial period of not more than 10 years, after which such Mortgage Loan will fully amortize to maturity.

Interest Only Loan is a loan which, by its terms, requires the related Borrower to make monthly payments of only accrued interest for the certain period of time following origination. After such interest-only period, the loan terms provide that the Borrower’s monthly payment will be recalculated to cover both interest and principal so that such Loan will amortize fully on or prior to its final payment date.

Interest Only Loan means the Borrower makes monthly payments of interest but not of principal so that, when the Loan matures, the entire principal amount of the Loan is still outstanding and is payable in one lump sum; Investor Report means the monthly report provided by the Cash Manager, with the assistance of the Servicer, to the Issuer, the Security Trustee, the Seller, the Bank of England and the Rating Agencies in respect of the Issuer and published in accordance with the Cash Management Agreement and substantially in the form set out in Schedule 3 (Form of Monthly Report) of the Cash Management Agreement;

Interest Only Loan means a Mortgage Loan for which the Monthly Payment does not include an amount in reduction of the principal balance of such Mortgage Loan, provided that at the end of the applicable Interest Only Period, such Mortgage Loan shall automatically be deemed no longer to be an Interest Only Loan.

Interest Only Loan means a first Lien Prime Loan or a first Lien Alt-A Loan originated by a Company that provides for payment of accrued interest only (with no principal reduction requirement) for a term of months specified in its Loan Papers. Construction/Permanent Loans shall not be deemed or considered to be Interest Only Loans.