The phrase "a loan amount" is correct and usable in written English.
It can be used when referring to the specific sum of money that is borrowed.
Example: "The bank approved my application for a loan amount of $10,000 to help with my home renovation."
Alternatives: "the borrowed sum" or "the amount borrowed".
So, for a 5/1 ARM with a loan amount of $300,000 and an initial rate of 3 percent, the payment for the first five years would be $1,265.
Technically, according to Keith Gumbinger, vice president of HSH.com, a "jumbo" mortgage is one with a loan amount above that which can be sold to Fannie Mae and Freddie Mac.
There's a phrase we've coined internally — the just-right-amount loan — which means that we try to put entrepreneurs in a loan amount that's a good fit for their current situation.
Rather than just declining her due to her poor credit history and low income, we found a loan amount that was right for her that allowed her to register her informal business and obtain a secured credit card to purchase supplies.
Amortization is the process of decreasing a loan amount by regular payments.
For the purposes of this article, let's assume a loan amount of $225,000.
For instance, he said, unless a lender makes a firm offer of credit — with a specific loan amount, a percentage rate and the length of the payoff term — the call violates the federal Fair Credit Reporting Act.
For example, the monthly car payment for a car loan amount of $25,500 with an interest rate of 6 percent and a loan term of 4 years (or 48 months) would be $598.87.
And some colleges give more favorable terms to their strongest admissions — a smaller loan amount, for example — based on a variety of factors such as academic strength or leadership.
The resulting adjustment in the borrower's debt-to-income ratio could mean a larger loan amount.
