loan term


The time, usually expressed in years, that a lender sets in which a buyer must pay a mortgage.

Use loan term in a sentence

The loan term was for a period of 15 years at an interest rate of 8% on Bob's home mortgage.

​ Was this Helpful? YES  NO 3 people found this helpful.

You need to make sure that you understand all of the important factors when you are about to sign a loan term.

​ Was this Helpful? YES  NO 10 people found this helpful.

The loan term was set and the individual agreed to the 15 year mortgage because he wanted to pay less interest.

​ Was this Helpful? YES  NO 8 people found this helpful.

Show more usage examples...

Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
investor fallout mortgage modification