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fully amortized loan
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fully amortized loan


  a loan that is fully repaid at maturity by regular periodic payments
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Strongly Associated with:   balloon payment
Notes:
If a fully amortized loan has a fixed rate, the payment amount will be the same each month; though in the early years, the great bulk of the payment will go towards paying interest and in the final years, the great bulk of the payment will go towards paying interest.

Fully amortized loans are in contrast to balloon loans.
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Associated words [difficulty]:   fully amortized loan , mortgage [2] , adjustable rate loan [9] , home equity [9]
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Most commonly used in these subjects:   Personal Finance, Business
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