Level Pay

Business / Finance / Level Pay: Scheduling principal and interest payments (P&I) due under a mortgage so that total monthly payment of P&I is the same. different from the typical mortgage for which the principal payment component of the monthly payment becomes gradually greater while the monthly interest component shrinks.

Other Words for Level

Level Noun Synonyms: horizontal, prone, supine
Level Adjective Synonyms: even, smooth, plane, uniform, plain, flat, flush, straight, true
Level Verb Synonyms: aim, point, draw a bead, direct, train, focus
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Other Words for Pay

Pay Verb Synonyms: extend, bestow, transmit, pass on, give, deliver
Pay Noun Synonyms: recompense, compensate, remunerate, reward, indemnify, repay, refund, reimburse, pay off, pay out, pay up, satisfy, clear, remit, discharge, liquidate, settle, honor, meet
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Graduated Payment Mortgage (GPM)

Business / Construction / Graduated Payment Mortgage (GPM) : A fixed-rate, fixed-schedule loan. It starts with lower payments than a level payment loan: payments rise annually, with the entire increase being used to reduce the outstanding balance. The increase MORE

Payer

Business / Finance / Payer: The person making a payment to a payee. MORE

Payee

Business / Accounting / Payee: The person (entity) to whom payment on a note is to be made. MORE

Paying Agent

Business / Finance / Paying Agent: An agent who makes principal and interest payments to bondholders on behalf of the issuer. MORE

Payment Cap

Business / Debt / Payment Cap: A Payment Cap is the maximum amount for a payment under an Adjustable Mortgage Loan, regardless of the increase in the interest rate. If the payment is less than the interest alone, negative amortizat MORE

Payload

Technology / Aviation / Payload: Anything that an aircraft carries beyond what is required for its operation during flight, theoretically that from which revenue is derived, such as cargo and passengers. MORE

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