Definition: a nonamortizing loan that normally calls for repayment of the principal in full at the end of the loan term
Pronunciation: \ˈtərm\ \ˈmȯr-gij\
Used in a Sentence: Our term mortgage required the entire loan be paid off at the end of the 30 year term.
Prepare for Your Real Estate Career in 2025: Start Now and Seize the Opportunity As we find ourselves in the final stretch of 2024, there's a palpable sense of urgency...
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