Term is the period over which the loan's payment amount is amortized. Term Due controls the date that the loan matures. When a loan has a term due that is less than the term, the loan's payments are amortized so that the loan would be paid in full at the end of the term but the loan's maturity date is based off of the term due. This will usually result in a balloon payment at maturity.
What is the difference between term and term due? Print
Modified on: Wed, 27 Feb, 2019 at 9:07 AM
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