Balance
Definition
The amount of the original loan remaining to be paid. It is equal to the loan amount less the sum of all prior payments of principal. See Mortgage Amortization: How Does it Work?
Related Terms Other terms related to 'Balance' starting with the letter 'B' Bimonthly mortgage, Buy down, Biweekly mortgage, Builder financed construction, Balloon mortgage Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 