A payment amount calculated by the lender to include the principal, interest, taxes, and insurance on an amortizing loan. The figure is designed to represent the borrower’s actual monthly mortgage-related expenses.
Real Estate Glossary : Terms and Definitions
A payment amount calculated by the lender to include the principal, interest, taxes, and insurance on an amortizing loan. The figure is designed to represent the borrower’s actual monthly mortgage-related expenses.
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