blended payment

noun

A mortgage loan payment that combines repayment of the principal, plus an interest payment.

Property taxes may also be included in the blended payment, in which case the added amount is calculated by dividing the annual property taxes by the number of mortgage loan payments for the year. (12, 26, or 52 for monthly, bi-weekly, or weekly payments.)

blended payment

noun

A payment made on a blended mortgage loan.

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