Appel Loan

Concept of Appel Loan (accelerating Payoff Progressive Equity Loan) in the context of Real Property

A short definition of Appel Loan (accelerating Payoff Progressive Equity Loan): A residential property loan which calls for a payment increase over the first 6 years. Level payments are made for the remaining years and the loan paid off during the 15th year. There is no prepayment penalty and P.M.I. is required.

Concept of Appel Loan (accelerating Payoff Progressive Equity Loan) in the context of Real Property

A short definition of Appel Loan (accelerating Payoff Progressive Equity Loan): A residential property loan which calls for a payment increase over the first 6 years. Level payments are made for the remaining years and the loan paid off during the 15th year. There is no prepayment penalty and P.M.I. is required.