total loan amount

USAGE SUMMARY

The phrase "total loan amount" is correct and usable in written English.
You can use it when discussing the complete sum of money borrowed in a loan agreement or financial context. Example: "Before signing the contract, make sure you understand the total loan amount and the interest rates involved."

✓ Grammatically correct

News & Media

Academia

Wiki

Human-verified examples from authoritative sources

Exact Expressions

29 human-written examples

(A point is equal to 1percentt of the total loan amount).

The New York Times

Fees, which generally are 1percenttoto 2percentt of the total loan amount, are inescapable.

The New York Times

Those fees were added to their total loan amount, increasing their monthly payments substantially.

The New York Times

(i) A loan fee of one percent of the total loan amount.

Cornell University

The total loan amount is based on the property's appraised value once the repairs are completed.

The New York Times

Origination fee Most federal student loans have loan fees that are a percentage of the total loan amount.

University of California, Berkeley

Human-verified similar examples from authoritative sources

Similar Expressions

31 human-written examples

Renovation loans cover the costs of the upgrades, but the total loan amounts are based on the predicted value of the house after the work has been completed.

The New York Times

As a result of the implementation of this credit policy, it can be seen that the total loan amounts granted to SMEs account for approximately USD 3.53 billion (from total credits granted of USD 7.06 billion in 2011).

Triple Helix

In its year of existence Prosper has had 0.5% of total loan amounts default and 6.5% fall behind on payments for a month, compared to 4.2% and 4.4% for card companies.

Forbes

Aside from basic identifying details like your name, address and Social Security number, your credit report contains information like the date you opened your various credit accounts and loans, your balances, the total loan amounts and credit limits on your accounts and your payment history.

HuffPost

At the end of February, banks' total loans amounted to ¥486 trillion; the city banks alone had outstanding loans of ¥216 trillion, compared with trading books (largely bond portfolios) valued, typically, at about a tenth of that.

The Economist

Expert writing Tips

Best practice

When discussing loan terms, explicitly state the "total loan amount" to avoid any ambiguity regarding fees, interest, or other associated costs. Transparency ensures clarity and prevents misunderstandings.

Common error

Avoid using "principal" interchangeably with the "total loan amount". The principal is the original sum borrowed, whereas the "total loan amount" includes principal, interest, and fees. Misrepresenting this can lead to inaccurate financial planning.

Linguistic Context

The phrase "total loan amount" functions as a noun phrase that identifies the overall sum of money borrowed in a lending agreement. Ludwig AI confirms its correctness and usability, highlighting its role in financial contexts.

Expression frequency: Very common

Frequent in

News & Media

40%

Academia

24%

Wiki

20%

Less common in

Science

8%

Formal & Business

8%

Ludwig's WRAP-UP

The phrase "total loan amount" is a commonly used and grammatically sound term that refers to the complete sum of money borrowed in a loan agreement. As highlighted by Ludwig AI, it is appropriate for use in various contexts, particularly within news, academic, and wiki sources. To ensure clarity, it's crucial to distinguish the "total loan amount" (including principal, interest, and fees) from the loan principal (the original sum borrowed). When discussing financial matters, use the term to clarify any ambiguity, and always verify that the "total loan amount" stated aligns with the expected terms and conditions.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

overall loan amount

Replaces "total" with "overall", emphasizing the comprehensive nature of the loan size.

aggregate loan amount

Uses "aggregate" to denote the sum of all parts of the loan, implying a combined total.

complete loan value

Substitutes "amount" with "value", highlighting the monetary worth of the loan.

total sum borrowed

Rephrases "loan amount" as "sum borrowed", clarifying the action behind the amount.

full loan principal

Emphasizes the principal, which is the original sum of money lent, using "full" to mean total.

total credit extended

Replaces "loan" with "credit extended", focusing on the act of lending money.

total debt obligation

Shifts focus to the borrower's responsibility, using "debt obligation" instead of "loan amount".

total financing received

Highlights the receipt of funds, replacing "loan" with "financing" and "amount" with "received".

outstanding loan balance

Focuses on the remaining amount to be paid, indicating the current total of the loan.

combined loan total

Uses "combined" to specify the summation of various loan components into a single total.

FAQs

How do I calculate the "total loan amount" including interest?

To calculate the "total loan amount" with interest, use a loan calculator or amortization schedule. These tools factor in the principal, interest rate, and loan term to show the complete sum you'll repay.

What's the difference between "total loan amount" and loan principal?

The principal is the initial amount borrowed, while the "total loan amount" includes the principal plus all interest and fees accrued over the loan's term. The "loan principal" is always less than the total amount repaid.

What documents show the "total loan amount"?

The "total loan amount" is typically detailed in the loan agreement or promissory note. These documents outline the terms of the loan, including the principal, interest rate, fees, and repayment schedule.

Are closing costs included in the "total loan amount"?

Closing costs may or may not be included in the "total loan amount", depending on the loan terms. Some loans allow you to finance closing costs, adding them to the principal, while others require you to pay them upfront.