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Kicker : Additional payment in mortgage

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Sam Site Admin Joined: 21 May 2005 Posts: 281 Location: CALIFORNIA 117.49 Dollars($)	Posted: Thu Apr 15, 2004 1:06 am    Post subject: Kicker : Additional payment in mortgage Kicker is an income feature added to a mortgage loan program through which the borrower makes an extra payment towards the mortgage apart from the interest and the principal amount. It is also known as equity kicker. It provides a source of extra income for the lender. For example: Suppose Jack has bought an office condominium from a corporation that agreed to give him a mortgage loan, provided a kicker is included in it. According to the terms and conditions of the mortgage, the corporation would receive 10% of business profit earned by Jack. This 10% income of the corporation is called the kicker.

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