The maturity of a loan refers to the date or period where the last payment is made according to the repayment schedule.
When maturity is mentioned it is usually used to refer to the end of the term, or last day, of the home loan.
When a banker says something like “The loan matures in June 2025”, it means that the loan would be fully repaid by the borrower assuming the borrower makes payments according to the repayment schedule without any events that affect the schedule.
Once fully repaid, the homeowner becomes the outright owner on the property title and any liens the bank has on the house will be released.
Don’t confuse it with the maturity of insurance policies.
When maturity is mentioned in housing loans, it has nothing to do with insurance.
for the last 36 months?
Enter your email below so we can send it to you.