Definitions for **"Blended Payments"**

Payments which include both interest and principle.

A method of repayment where principal and interest remain constant in their amount. Blended Mortgage: If your mortgage is portable - and you need extra funds the new mortgage can be added to the old and the rate/term is blended. Some lenders also offer Split Mortgages so you can take a new term for the extra funds.

Equal payments consisting of both and interest and principle component.

Payments which include both principle and interest.

Equal payments consisting of a principal and an interest component, paid each month during the term of the mortgage. Principal portion increases while the interest portion decreases over the term of the mortgage but the payment remains consistent.

Equal payments consisting of both an interest and a principal component. Typically, while the payment amount does not change, the principal portion increases, while the interest portion decreases.

Total principal and interest payments remain the same over the term of the loan, however the principal portion of the payment increases and the interest portion decreases.

Equal payments consisting of both a principal and an interest component, paid each month during the term of the mortgage. The principal portion increases each month, while the interest portion decreases, but the total monthly payment does not change.

Equal payments consisting of both a principal and an interest component, paid on a regular basis (i.e. weekly, bi-weekly, monthly) during the term of the mortgage. The principal portion increases, while the interest portion decreases over the term of the mortgage, but the total regular payment usually does not change.

Method of repayment where periodic payments of principle and interest are made so that the payments remain constant in amount, although the portions attributed to principle and interest will vary with each payment as the time elapses in the amortization periods.

Equal monthly payments consisting of both principal and interest, paid by the borrower each month until the mortgage is fully paid off (amortized). Each month, the principal portion increases and the interest portion decreases, but the overall monthly payment does not change. Most mortgages are structured this way. Biweekly Mortgage Payments Instead of paying once a month, with biweekly mortgage payments you pay half every two weeks. Instead of making twelve monthly payments during the year, you end up making the equivalent of thirteen. This extra payment reduces the principal faster, and therefore reducing your overall interest costs.

() A loan which is repaid through equal and consecutive installments that include interest and principal.

A payment consisting of principal and interest which will repay a loan by the contracted amortization period.

Regular equal mortgage payments combining interest and principal components.

Regularly scheduled mortgage payments consisting of principal and interest.

A repayment method by which the same amount is paid each month, but the composition of the interest and principal changes with each payment. With each payment, the amount allocated to the principal increases as the amount allocated to interest decreases. Most mortgages use blended payments because it provides a consistent monthly payment amount for the borrower.

Payments consisting of principal and interest components, paid during the amortization period of a mortgage.

The method or repayment where periodic payments of principal and interest are made in such a way that the payments remain constant in amount, although the portions attributed to principal and interest vary with each payment.