Precomputed Loan definition

Precomputed Loan means any Loan under which the portion of a payment allocable to earned interest (which may be referred to in the related Loan as an add-on finance charge) and the portion allocable to principal are determined according to the sum of periodic balances, the sum of monthly payments or any equivalent method or are monthly actuarial loans.

Precomputed Loan means a loan in which the debt is a sum comprising the principal amount and the amount of interest computed in advance on the assumption that all scheduled payments will be made when due.

Precomputed Loan means a loan in which the debt is

Examples of Precomputed Loan in a sentence

• The Prepaid Finance Charges are deemed by the parties to be fully earned on the Date of Loan and are not refundable, to the extent permitted by applicable law.If my loan is a Precomputed Loan and I prepay my loan in full, the amount I owe will be reduced by any unearned finance charges computed by: (a) if the term of this Agreement is sixty-one (61) months or less, the Rule of 78s method; or (b) if the term of this Agreement is more than sixty-one (61) months, the actuarial method.

• If my loan is a Precomputed Loan, instead of imposing a late charge, Lender may defer the due dates of all remaining payments, and I agree to pay a deferment charge.CONVERSION.

• If Precomputed Loan (see item 7 above) — Check method of Interest Rebate: Rule of 78s Actuarial12.

• If my loan is a Precomputed Loan, instead of imposing a late charge, Xxxxxx may defer the due dates of all remaining payments, and I agree to pay a deferment charge.

• Precomputed Loan A loan in which the borrower agrees to pay the total of payments that includes both principal and all anticipated interest through the full term of the loan.

More Definitions of Precomputed Loan

Precomputed Loan means a loan in which the debt is expressed as a sum comprising the principal and the amount of interest computed in advance.

Precomputed Loan means a loan that is expressed as a sum comprising the principal and the amount of the loan finance charge computed in advance.

Precomputed Loan means a loan which is expressed as a sum comprising the

Precomputed Loan means a loan in which the debt is expressed as the sum of the original principal amount plus interest computed actuarially in advance, assuming all payments will be made when scheduled.

Precomputed Loan means a loan that is expressed as a sum comprising the principal

Precomputed Loan means a loan in which the debt is expressed as a sum comprising the principal and the amount of interest computed in advance.” (Wis. Stat. Ann. §138.09[7][a][1])

Precomputed Loan means an installment