A loan that is renewed at an established time at current market interest rates.
a type of mortgage loan, commonly used in Canada, in which the amortization of principal is based on a long term but the interest rate is established for a much shorter term. The loan may be extended, or rolled over, at the end of the shorter term at the current market interest rate.
A loan with a call date that is earlier than the usual amortization period.
A loan where the amortization period is much longer than the term and the borrower is allowed to refinance at the end of the term at the interest rate then applicable.
A loan that /includes a call date earlier than its normal amortization period.
A loan that is amortized over a long period of time (e.g. 30 yrs) but the interest rate is fixed for a short period (e.g. 5 yrs). The loan may be extended or rolled over, at the end of the shorter term, based on the terms of the loan.
A loan that is long term (e.g. 30 years) were the interest rate is kept lower for a shorter number of years (e.g. 5). This type of loan can either be rolled over or extended based on the terms of the loan at the end of the shorter period.
Long-term loan with a guaranteed interest rate for a shorter period with interest renegotiated periodically, at current rates or the extension of a mature loan at current rates. Alternately, delay allowed for repayment of principal, by a bank to a debtor with financial difficulties.