## How do I choose a specific payment structure?

Review the descriptions below to help you choose a specific payment structure.

n Borrower information helps determine available payment structures. Some payment structures only apply to consumer loans and some payment structures only apply to commercial loans.

n Loan Definition information helps determine available payment structures.

n The payment structure selected on the first Calculations windows determines options on subsequent windows.

– Example: Only a funding date and maturity date are needed for a Line of Credit—Single Pay loan. The system calculates the interest, adds it to the principal, and displays the single payment amount.

– Example: The number of payments, the first payment, and funding date are needed for a Line of Credit—Interest-Only loan. The system calculates the last payment.

Payment Structure | Description
Balloon | § Amortized term greater than maturity § For any loan type § Allows for collection of odd days interest
Balloon Mortgage | § Amortized term greater than maturity § For secured, real estate loan types only § For fixed interest, 30/360 period § Allows for collection of odd days interest
Fully Amortized | § Equal periodic payments to reduce balance and payoff at maturity § For any loan type other than a line of credit § Allows for collection of odd days interest
Inhouse Balloon Mortgage | § Amortized term greater than maturity § For secured, real estate loan types only § Allows for collection of odd days interest
Inhouse Mortgage | § Equal periodic payments to reduce balance and payoff at maturity § For real estate loan types § Always calculates odd days interest
Interest Only | § Periodic payment of accrued interest only § For any loan types § Allows for collection of odd days interest
Interest Only Construction | § Periodic payment of accrued interest only § For construction loan types § Calculates finance charge at 50%
Interest Only Line of Credit (LOC) | § Periodic payment of accrued interest only § For business line of credit (closed) loan types § An interest only, line of credit loan with single pay can only be used for a personal, closed-end line of credit
Irregular | § Series of different payment streams § For any loan type
Level Principal Reduction | § Equal periodic payments of level principal amounts plus accrued interest and payoff at maturity § For any loan type
Mixed Principal and Interest | § Allows for differing payment frequencies of principal and interest § For any loan type § Allows for collection of odd days interest
Mortgage | § Equal periodic payments to reduce balance and pay off at maturity § For real estate loan types § For 30/360 period § Always allows for odd days interest
Open End Line of Credit | § Allows for defining payment number, frequency, and composition (Example: interest only) § For construction of business line of credit loan types § No calculations
Single Payment | § 1 payment of principal and interest due at maturity § An interest only, line of credit with single pay can only be used for a personal, closed-end line of credit
Single Payment Construction | § 1 payment of principal and interest due at maturity § For construction loans
Unstructured | § Custom repayment is entered as text with no calculations § For business term loans