Definitions for "Standard Payment Calculation"
The method used to determine the monthly payment required to repay the remaining balance of a mortgage in substantially equal installments over the remaining term of the mortgage at the current interest rate.
A calculation that is used to determine the monthly payment necessary to repay the balance of a home loan in equal installments.
A method of figuring out how much monthly payments should be, based on the beginning loan balance, the term and the interest rate.
An account that is established for rehabilitation mortgages to hold the funds needed for the rehabilitation work so they can be disbursed from time to time as particular portions of the work are completed.