Premium Loan definition

Premium Loan. Any Mortgage Loan with a Net Rate in excess of 6.00%.
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Premium Loan. Any Mortgage Loan in Group I with a Net Rate in excess of 4.75%; any Mortgage Loan in Group II with a Net Rate in excess of 5.75%; any Mortgage Loan in Group III or Group IV with a Net Rate in excess of 6.00%, and any Mortgage Loan in Group V with a Net Rate in excess of 5.00%.
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Premium Loan. Any Group 1 Premium Loan or Group 2 Premium Loan.
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Examples of Premium Loan in a sentence

  • The minimum loan amount is $500, unless the loan is an Automatic Premium Loan.

  • If the Policy continues in force because of the operation of an Automatic Premium Loan provision, or other such provision by which the Ceding Company receives compensation for its risk, then the reinsurance will also continue and the Ceding Company will pay the Reinsurer the reinsurance premium for the period to the date of termination.

  • Automatic Premium Loan:  Y  N(inheritance, loan, business activity) (Complete for Whole Life only.)30.

  • Only check the box in this section if you are declining the Automatic Premium Loan (APL) feature.

  • This authorization is being set up to pay the: Premium Loan on the following contract - .Loan repayment amount, if applicable - $ .Withdrawals will occur on day .

  • The minimum amount of Premium Loan that can be repaid at every instance shall be Rs. 500 or total outstanding loan plus interest whichever is lower.

  • An interest, where the interest rate will be determined by us from time to time, will be charged on the Automatic Premium Loan.

  • POLICY LOANS Except for an Automatic Premium Loan, the minimum loan amount is $500.

  • This share is payable as an Annual Dividend less any loans on the Policy anniversary, so long as all Premiums including the Automatic Premium Loan due before then have been paid in full.

  • The Assignor shall comply with and perform its obligations with respect to any Insurance Premium Loan.


More Definitions of Premium Loan

Premium Loan. Any Mortgage Loan in Loan Group I with a Net Rate greater than 8.00%.
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Premium Loan means the initial Loan made for the purpose set out in paragraphs (a) and (b) of Clause 3.1 (Purpose).
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Premium Loan. Any Mortgage Loan in Group I or Group II with a Net Rate greater than or equal to 5.25%; any Mortgage Loan in Group III, Group IV or Group V with a Net Rate greater than or equal to 6.00%; and any Mortgage Loan in Group VI with a Net Rate greater than or equal to 4.75%.
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Premium Loan. Any Group 1 Mortgage Loan with a Net Rate greater than or equal to 7.00% per annum.
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Premium Loan. A mortgage loan with respect to which the mortgagee pays to the mortgagor consideration or "premium" at origination for the mortgagor's acceptance of the mortgage loan.
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Premium Loan. Any Mortgage Loan in Subgroup A with a Net Rate greater than or equal to 5.50% and any Mortgage Loan in Subgroup C with a Net Rate greater than or equal to 6.00%.
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Related to Premium Loan

  • Premium Mortgage Loan Any Group 1 Premium Mortgage Loan or Group 2 Premium Mortgage Loan.

  • MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • Premium Amount The amount of premium due to the Note Insurer in accordance with the terms of the Insurance Agreement.

  • Premium Due Date means date specified in the Schedule on which the Instalment Premium will become due.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • LPMI Loan A Mortgage Loan with a LPMI Policy.

  • Premium Rate has the meaning assigned to such term in the Premium Letter.

  • Prepayment Premium Period means the period during which, if a prepayment of principal occurs, a prepayment premium will be payable by Borrower to Lender. The Prepayment Premium Period is the period from and including the date of this Note until but not including the first day of the Window Period.

  • Premium Loading means the additional premium on top of the Standard Premium charged by the Company to the Policy Holder according to the additional risk assessed for the Insured Person.

  • Collateral Loan means a Senior Secured Loan, a Senior Secured Bond, a First Lien/Last Out Loan or a Second Lien Loan or a Participation Interest in any Senior Secured Loan, First Lien/Last Out Loan or Second Lien Loan that as of the date of acquisition by the Borrower meets each of the following criteria:

  • PPP Loan means the loan in principal amount of $673,184 issued to the Company by the PPP Lender pursuant to the promissory note dated April 20, 2020.

  • Refinanced Mortgage Loan A Mortgage Loan the proceeds of which were not used to purchase the related Mortgaged Property.

  • Buydown Loan A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan.

  • Prepayment Penalty With respect to each Mortgage Loan, the amount of any premium or penalty required to be paid by the Mortgagor if the Mortgagor prepays such Mortgage Loan as provided in the related Mortgage Note or Mortgage.

  • Discount Mortgage Loan Any Mortgage Loan having a Net Mortgage Rate (or the initial Net Mortgage Rate) of less than the Discount Net Mortgage Rate per annum and any Mortgage Loan deemed to be a Discount Mortgage Loan pursuant to the definition of Qualified Substitute Mortgage Loan.

  • Premium Letter means the letter agreement dated the Closing Date among LBAC, the Issuer and the Note Insurer referring to payment of the Premium.

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Prepayment Premium means, with respect to the Mortgage Loan, any prepayment premium, spread maintenance premium, yield maintenance premium or similar fee required to be paid in connection with a prepayment of the Mortgage Loan pursuant to the Mortgage Loan Documents, including any exit fee.

  • Prepayment Penalty Amount With respect to any Remittance Date, all prepayment penalties, penalty or yield maintenance premiums or charges paid by the obligors under the Mortgage Notes due to Principal Prepayments collected by the Servicer during the immediately preceding Prepayment Period.

  • Discount Loan The Loans having Pass-Through Rates of less than 6.75%.

  • Premium Payment Date in respect of any Option, means the date on which the Premium is due and payable, as agreed to at the time the Option is entered into, as evidenced in a Confirmation.

  • FHA Loan means a Mortgage Loan which is the subject of an FHA Mortgage Insurance Contract.

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • Refinancing Mortgage Loan Any Mortgage Loan originated in connection with the refinancing of an existing mortgage loan.