Interest only means a closed-end loan that permits one or
Interest only means a closed-end loan that permits one or more payments of interest without any reduction of the principal balance of the loan, other than the first payment on the loan.
Interest only. Instrument(s)" shall, as to that particular Certificate, have the meaning ascribed to the term "Class S Certificate", "Class IS Certificate, "Class IIS Certificate" or a similar phrase describing an interest only security in the respective Sale Agreement arising from the Securitization pursuant to which such security is issued, which security represents the undivided interest of the Borrower in all or a portion of the interest payments due on certain loans securitized in that Securitization.
Examples of Interest only in a sentence
Interest only security for which the fund receives interest on notional principal (Par amount).
Interest only, based on the amount drawn down, shall be paid on the outstanding balance during the construction period.
Interest only, based on the amount drawn, shall be paid on the outstanding balance during the construction period.
For clarification purposes, the actual Repayment and payment of Interest only takes place when a payment is made by SME Finance to Lendahand.
The holder of the Residual Interest will receive distributions on its Residual Interest only according to Article IV.
More Definitions of Interest only
Interest only. – this means that you will only pay the interest owed on your loan during this period and not the capital amount owed
Interest only. – this means that you will only pay the interest owed on your loan for an agreed period and not the capital amount owed
Interest only means that all of your loan payments go towards the interest, so the principal is not paid off until the very end of the mortgage. Usually this big amount is paid off by re-financing which is borrowing again, or by selling the house.
Interest only has the meaning given to it in Section E.2.c of the Servicing Guidelines.
Interest only you will make regular payments of interest on the outstanding principal balance of your loan, plus, if you have elected insurance coverage, the insurance premium for the payment period. ● If the Statement of Disclosure requires payments of a certain amount "plus interest": you will make regular payments of that amount, plus interest on the outstanding principal balance of your loan, plus, if you have elected insurance coverage, the insurance premium for the payment period. ● If the Statement of Disclosure requires regular payments of a fixed amount: you will make regular payments equal to that amount, plus, if you have elected insurance coverage, an additional fixed amount calculated based on average insurance premiums over the term of your loan. Interest due on a regular payment date is calculated from and including the previous regular payment date to, but not including, the current regular payment date. First regular payment only: The Statement of Disclosure will show the date when your first regular payment is due. Interest due on the first regular payment date is calculated from and including the date funds are advanced to, but not including, the first regular payment date. If the regular payment amount is not sufficient to cover such interest, plus, if applicable, the insurance premium, the excess will be added to the principal balance of the loan. Number of regular payments you must make: The number of payments you must make is determined by the date of your first payment and the term of your loan. This number may not be exactly equal to the term of your loan divided by the frequency of your payments. For example, if you are making monthly payments and the term of your loan is 12.3 months, the number of payments you must make will be either 12 or 13. To see the number of payments you must make, please refer to “Number of payments” in your Statement of Disclosure. The total amount owed on your loan includes all amounts you owe on your loan, interest, insurance premiums, taxes and fees. You must pay all amounts owing to us on time, including whether or not your method of payment is through pre-authorized debit. It will not diminish our rights if we accept late, partial or other payments not made in accordance with this Agreement or if you mark a cheque or money order as being full payment when it is not.
Interest only you will make regular payments of interest on the outstanding principal balance of your loan, plus, if you have elected insurance coverage, the insurance premium for the payment period. ● If the Statement of Disclosure requires payments of a certain amount "plus interest": you will make regular payments of that amount, plus interest on the outstanding principal balance of your loan, plus, if you have elected insurance coverage, the insurance premium for the payment period. ● If the Statement of Disclosure requires regular payments of a fixed amount: you will make regular payments equal to that amount, plus, if you have elected insurance coverage, an additional fixed amount calculated based on average insurance premiums over the term of your loan. Interest due on a regular payment date is calculated from and including the previous regular payment date to, but not including, the current regular payment date. First regular payment only: The Statement of Disclosure will show the date when your first regular payment is due. Interest due on the first regular payment date is calculated from and including the date funds are advanced to, but not including, the first regular payment date. If the regular payment amount is not sufficient to cover such interest, plus, if applicable, the insurance premium, the excess will be added to the principal balance of the loan.
Interest only means any Mortgage Loan which requires scheduled payments of interest only until the related Maturity Date, or Anticipated Repayment Date.