HomeTermsCompareFinance PayoffThe definition for Payoff:The payment in full of an existing loan or other lien. Similar MatchesAppel Loan (Accelerating Payoff Progressive Equity Loan)Appel Loan (Accelerating Payoff Progressive Equity Loan)A residential property loan which calls for a payment increase over the first 6 years. Level payments are made for the remaining years and the loan paid off during the 15th year. There is no prepayment penalty and P.M.I. is required. Payoff EscrowPayoff EscrowAn escrow, specifically for the purpose of paying off an existing lien. Usually part of an existing escrow, and called a sub escrow. Click to compare definitions of Payoff Click to view definitions beginning pa |