Deferred Payment Loan definition

Deferred Payment Loan means a loan that is repayable or partially repayable upon the occurrence of a specified event as determined by the authority.

Deferred Payment Loan means a loan repayable in accordance with clause 6.6(d);

Deferred Payment Loan means Funds provided to a borrower under terms that calls for repayment to be delayed for a certain length of time, until certain circumstances change, or a certain threshold is met.

Examples of Deferred Payment Loan in a sentence

• HOME Program funds will be disbursed on behalf of the DEVELOPER under the following terms and conditions; HOME funds are provided as a Deferred Payment Loan at 0% interest.

• The amount of the application fee to be charged to the borrower(s) for a housing rehabilitation loan is $35 for a Deferred Payment Loan and $50 for an Installment Loan.

• The Loan Agreement for such Eligible Xxxxxx Loan is substantially in the form of one of the Deferred Payment Loan Agreements attached to Schedule 3 hereto or any other form of Loan Agreement provided to and deemed satisfactory by Agent.

• Owner-Investor - There are no restrictions on the income of the owner-investor unless the owner-investor is a member of the Targeted Income Group (TIG) and is interested in qualifying for a Deferred Payment Loan (see Section 12.3.1.B.).

• Beginning with the thirty-first (31st) year after achievement of stabilization, payments will also begin on the Deferred Payment Loan, at which point 60% of Net Cash Flow will be paid toward each of the two loan balances in equal amounts based upon the respective balances of each loan at that point in time.

More Definitions of Deferred Payment Loan

Deferred Payment Loan. A Mortgage Loan with respect to which the Mortgagor has elected to defer the first Scheduled Payment for 120 days or less after the date of origination of such Mortgage Loan.

Deferred Payment Loan. Any Mortgage Loan as to which the Mortgagor, at origination, elected, in accordance with the terms of the related Mortgage Note, to defer the first two or three payments due thereunder.

Deferred Payment Loan means a loan for rehabilitation or acquisition and rehabilitation of rental housing developments made from the Housing Rehabilitation Loan Fund.

Deferred Payment Loan means a loan made by the Department to an eligible household, rental sponsor or cooperative from the Fund pursuant to Article 5 of this subchapter.

Deferred Payment Loan means a loan that is repayable or

Deferred Payment Loan means a loan which allows the borrower to defer all the monthly principal and interest payments until the maturity date of the promissory note, at which time, all of the outstanding principal loan balance and all accrued interest is due and payable or paid in such other amounts and at such times as determined and approved by TOKA.

Deferred Payment Loan means the Community Development Block Grant funds allocated by the Community Development Committee to an eligible household to rehabilitate an eligible property with an understanding and an agreement that the sum of the principal and interest will be repaid at the time the property is transferred to a new owner, when a life estate terminates, or when the property is no longer the applicant's principal place of residence.