The phrase "payment is applied" is correct and usable in written English.
It can be used in contexts related to financial transactions, indicating that a payment has been processed or credited to an account.
Example: "Once the payment is applied, your subscription will be activated immediately."
Alternatives: "payment has been processed" or "payment has been credited."
Part of each payment is applied to the interest and part reduces the outstanding balance.
Savings will generally be greater, for instance, if the entire extra payment is applied to the loan with the highest interest rate, rather than being prorated to each loan individually.
Ms. Detweiler said that since only a small portion of the monthly payment is applied to the principal in the early years of a mortgage, a homeowner could end up having to sell a house for less than the outstanding balance on the loan.
Like student loan debt, make sure that your one-time payment is applied directly to your principal loan balance (not toward next month's regular monthly payment).
Don't forget to make sure that your extra payment is applied towards the principal to further reduce your loan.
However, capitation contracted model applied by SHI has contained cost in the long run with a decent quality of care [ 17]. "They (hospitals) would be viable when closed-end provider payment is applied.
A borrower with a 20% down payment is applying for a 30-year, fixed-rate, $300,000 loan to purchase a single-family home in Westchester County, New York.
Comprehensive package is financially feasible as the self-cost-contained closed end payment was applied.
Various types of provider payment were applied by the CBI schemes: 17 used fee-for-service, 12 used salaries, 9 applied a coverage ceiling, 7 used capitation and 6 applied a co-insurance.
He said the department is working to standardize practices among the servicers and teaming with the Consumer Financial Protection Bureau to fix problems with the way payments are applied.
Pauline Abernathy, vice president of the nonprofit Institute for College Access and Success, said the report suggested there should be a uniform policy, outlining the way payments were applied.
