Repayment Mortgage definition
Repayment Mortgage means a Mortgage under the terms of which monthly instalments covering both interest and principal are paid by the Borrower until the Mortgage is fully repaid by its maturity in accordance with the relevant Mortgage Conditions;
Repayment Mortgage means a loan under which each monthly payment includes a repayment of the capital element of the mortgage debt as well as a payment towards interest. This is identified in the offer.
Repayment Mortgage means a Loan where the principal and Interest is intended to be repaid over the Repayment Term by regular Monthly Payments.
Examples of Repayment Mortgage in a sentence
The FHLB-NY, the Member, and the Sponsor hereby agree that foreclosure upon the Repayment Mortgage document (to be executed between the Member and each owner-occupant household) is deemed to be a “reasonable” collection effort, notwithstanding any inability by the Member to successfully recoup the entire AHP Subsidy from a foreclosure judgment.