Posted on: 01st Jul, 2004 11:45 pm
Maturity Date is a last day, when the total principal balance of a mortgage deal, comes due.
Maturity date is also known as:
Characteristics of maturity date:
Maturity date is also known as:
- Renewal date
- Call date
- Pre-payment right
Characteristics of maturity date:
- Last Day - It is the last day of the term of the current mortgage contract.
- Conditions required - On the maturity date the borrower must fulfill certain conditions-
- He/She must make the full mortgage payments.
- He/She must renew the present mortgage with the same mortgage lender or.
- He/She must switch to a new lender.
how do i calculate my principal balance on date of renewal
If you use an amortization table, you can quickly find out your principal balance at any point in time.
The easiest amortization tables will be a simple web page "calculator" or schedule.
The great things about these schedules is that you will also get to see how small changes like adjustments in payments (extra payments) or how interest rates will change your future.
Enjoy!
Shane Chagpar
The easiest amortization tables will be a simple web page "calculator" or schedule.
The great things about these schedules is that you will also get to see how small changes like adjustments in payments (extra payments) or how interest rates will change your future.
Enjoy!
Shane Chagpar
nice. apparently the random photo I got assigned after answering your question was that of a young brown girl. I hope changing my gender was worth the answer!!