Mortgage Loan Amount means, as determined from time to time, the outstanding principal amount of the Mortgage Loan.
Mortgage Loan Amount means, with respect to a Mortgage Loan, the original principal balance of the Mortgage Loan (including any mortgage insurance premium or mortgage guaranty funding fee) set forth in the applicable Program Documents.
Mortgage Loan Amount means the outstanding principal amount of Mortgage Loan.
Examples of Mortgage Loan Amount in a sentence
I also understand, The Reissued MCC will be issued for a Mortgage Loan amount that is not greater than the amount that was required to pay off the remaining principal balance of the previous mortgage loan.) If the principal amount of your new Mortgage Loan exceeds the amount required to pay off the previous Mortgage Loan, then only a portion of the interest on the new Mortgage Loan Amount is eligible for a tax credit.
This can serve to lower the recapture tax amount: $65,000 - 62,895 = $2,105 / 5,000 = 42% Mortgage Loan Amount x 6.25% = MAXIMUM RECAPTURE or $69,010 x 6.25% = $4,313.13$4,313.13 x 80% (HPP calculation) = $ 3,450.50$3,450.50 x 42% = $1,449.21 RECAPTURE Maximum recapture will be $1,449.21, but will never exceed 50% of the gain.
Due to borrower privacy considerations, Fannie Mae rounds the Mortgage Loan Amount to the nearest thousand if the Loan Age is equal to or less than six months, and for balances greater than $500.
Simultaneously with the delivery of this Fifth Supplemental Project Contract, the Authority shall issue, sell, and deliver the Series 2020 Bonds in the Series 2020 Mortgage Loan Amount to provide it with funds to be loaned to the Project Owner pursuant to this Fifth Supplemental Project Contract.
Due to borrower privacy considerations, Fannie Mae rounds Mortgage Loan Amount, Origination Mortgage Loan Amount, and Interest-Bearing Mortgage Loan Amount to the nearest thousand for balances greater than $500.
More Definitions of Mortgage Loan Amount
Mortgage Loan Amount means the face amount of the Note for all Mortgage Loans delivered under this Agreement.
Mortgage Loan Amount. $ Date of Promissory Note: ---------------- --------------- THE UNDERSIGNED BORROWER ("Borrower") hereby agrees to pay to the order of PRINCAP MORTGAGE WAREHOUSE, INC., a Delaware corporation ("Lender") the amount of the Advance made by Lender at the request of Borrower to fund the Mortgage Loan Amount set forth above, together with interest thereon from the date of advancement at the Basic Interest Rate set forth in the Warehouse Credit and Security Agreement dated ________ between Borrower and Lender (the "Agreement"). Reference is made to the Agreement for the terms and conditions under which the Advance has been made, the period within which payment is due, the Default Interest Rate and the place and manner of payment. Capitalized terms used and not otherwise defined in this Promissory Note shall have the respective meanings given to those terms in the Agreement. Upon the occurrence of an Event of Default (as defined in the Agreement) the entire principal of this Promissory Note, together with accrued but unpaid interest thereon, and any other obligations of Borrower or other Obligors to Lender shall become immediately due and payable in full. Borrower waives presentment for payment, demand, protest, notice of protest, notice of dishonor or other notice of any kind. Borrower hereby reconfirms to Lender that all representations and warranties of Borrower set forth in the Agreement are true, correct and complete as if remade as of the Date of this Promissory Note set forth above.
Mortgage Loan Amount. $ Advance Amount: $ -------------- ----------------------- This is to advise you that, at the request of the Originator identified above, Princap Mortgage Warehouse, Inc. ("Princap") will, within one Business Day of the date of this letter, deposit by electronic transfer of funds into your Settlement Account identified above, the Advance Amount identified above. The Advance Amount is to be used to fund the residential mortgage loan to the Mortgagor identified above in the Mortgage Loan Amount identified above and for no other purposes. By acceptance of the Advance Amount you agree to act as agent for Princap to take custody of the originally executed Mortgage Note on behalf of Princap and deliver the Mortgage Note, with a complete and accurate photocopy of the fully executed HUD-1 Settlement Statement, to Princap at the address set forth below, by nationally recognized express delivery service on the next day (other than Saturday, Sunday or bank holiday) (a "Business Day") following the date the Mortgage Loan is funded: Princap Mortgage Warehouse, Inc. Two Xxxxxxx Xxxxx, Xxxxx 000 000 Xxxxxx Xxxx Xxxxxxxx, XX 00000 If, within one Business Day after the Advance Amount is deposited into your Settlement Account, the Advance Amount is not disbursed to fund the closing with the Mortgagor, you must return the Advance Amount not later than 2:00 p.m. EST/EDT on the second Business Day following receipt, by electronic transfer of immediately available funds, to the following account:
Mortgage Loan Amount. $7.70 million, subject to the terms and conditions set forth in this Commitment Letter (including, without limitation, Lendxx'x xights to modify and reallocate the mortgage debt and the mezzanine debt as set forth below under the caption "Lendxx'x Xight to Restructure Loans"). The aggregate principal amount of the Mortgage Loan is allocable to the Properties as follows: (i) $1.40 million is allocable to the Third Street Property; (ii) $1.50 million is allocable to the Two Rivers Property; and (iii) $4.80 million is allocable to the 5th & Marsxxxx Xxxperty (each amount, such Property's "Allocated Loan Amount"). The Allocated Loan Amounts will be adjusted ratably in the event of a Balance Transfer (as defined below). Lendxx'x xommitment to make a first mortgage loan in such amount is subject to: (i) a Debt Service Coverage Ratio (as defined below) of 1.70x, and (ii) a maximum LTV Ratio (as defined below) of 55%. If the Debt Service Coverage Ratio and the LTV Ratio set forth above are not maintained as of the date on which the Mortgage Loan is to close, Lender will have the right to reduce the Mortgage Loan amount, modify the interest rate or refuse to close the Mortgage Loan.
Mortgage Loan Amount means the sum of (i) the Mortgage Loan Initial Advance and (ii) the Mortgage Loan Future Funding Component.
Mortgage Loan Amount. $46.0 million, subject to the terms and conditions set forth in this Commitment Letter (including, without limitation, Lender's rights to modify and reallocate the mortgage debt and the mezzanine debt as set forth below under the caption "Lender's Right to Restructure Loans"). Lender's commitment to make a first mortgage loan in such amount is subject to (i) a Debt Service Coverage Ratio (as defined below) of 1.25x, and (ii) a maximum LTV Ratio (as defined below) of 70%. If the Debt Service Coverage Ratio and the LTV Ratio set forth above are not maintained as of date on which the Mortgage Loan is to close, Lender will have the right to reduce the Mortgage Loan amount, modify the interest rate or refuse to close the Mortgage Loan.
Mortgage Loan Amount means the principal amount on the face of the Note for all closed-end Mortgage Loans delivered under this Agreement.