remaining balance

Definition

The amount of the principal on a home loan that has not yet been paid.

Use remaining balance in a sentence

John and Lisa decided to pay off the remaining balance on their home loan as it was at an amount that make financial sense at this point.

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Sue and Mike had been paying their mortgage faithfully for the past 14 years and wanted to know their remaining balance on the mortgage as a whole.

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The couple wanted to sell their home but they needed to call the bank first to get the remaining balance of their home. This would help them price their home for sale.

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