Definitions for **"Standard Payment Calculation"**

The method used to determine the monthly payment required to repay the remaining balance of a mortgage in substantially equal installments over the remaining term of the mortgage at the current interest rate.

A calculation that is used to determine the monthly payment necessary to repay the balance of a home loan in equal installments.

A method of figuring out how much monthly payments should be, based on the beginning loan balance, the term and the interest rate.