Definition: The Mortgage 700k term refers to a mortgage loan that provides for two payments, with the borrower making one payment at the end of each month (the principal repayment) and the other at the beginning of each month (the interest repayment). The term is typically used in conjunction with an adjustable rate mortgage (ARM) or with a fixed-rate mortgage. The term Mortgage 700k refers to a type of mortgage loan that provides for two payments, one payment made monthly at the end of the month and another at the beginning of the month. The borrower makes both payments, but each has a different interest rate based on how much they have paid in principal over time. The term Mortgage 700k is often used to describe a mortgage loan that is adjustable or fixed-rate. An adjustable mortgage allows the borrower to pay more or less than their initial loan amount at any point during the term of the loan, while a fixed-rate mortgage requires the borrower to make equal monthly payments for the life of the loan.
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