Principal refers to the amount of money initially borrowed in a loan, excluding interest and other fees. It is the base amount on which interest payments and amortization schedules are …
Principal and Interest
Principal (the capital sum) and interest on the principal are combined in the mortgage payment to result in full repayment at the end of the loan's term (except in the case of balloon loans). …
Principal Paid Over Life of Loan
The sum of scheduled principal payments are calculated by the lender to equal the face amount of the loan. …
Principal, Interest, Taxes and Insurance (PITI)
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 …
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Principle of Conformity
The idea that a house will more likely appreciate in value if its size, age, condition, and style are similar to (or conform to) other houses in the neighborhood. …
Principle of Progression
An appraisal term which states that real estate of lower value is enhanced by the proximity of higher-end properties. …