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Appel Loan (Accelerating Payoff Progressive Equity Loan)

The definition for 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.






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