paydown
Reducing what's owed
A paydown is a reduction in the amount owed on a debt, typically through a lump-sum payment larger than the minimum required: We used our tax refund for a paydown on the mortgage.
The term appears frequently in financial contexts discussing debt reduction strategies.
As a verb phrase, to pay down means to reduce a balance incrementally: She's been paying down her student loans aggressively.
Gradual debt reduction schedule
- principalChief school administrator
- reductionMaking something smaller
- outstandingExceptionally good or unpaid
- balanceSteadiness or amount owed
liquidation · retirement · redemption · clearance · settlement · defrayal · installment · obligation
Chief school administrator
- amortizationGradual debt reduction schedule
- borrowerOne who takes temporarily
- lenderOne who loans money
- installmentPeriodic partial payment
term · outstanding · schedule · collateral · default · creditworthiness · forbearance · deferment
Chief school administrator
- amortizationGradual debt reduction schedule
- homeownershipLegally possessing residential property
- equityImpartial treatment or ownership value
- refinanceObtain new loan terms
underwater · escrow · foreclosure · lender · borrower · term · fixed-rate · adjustable-rate
Allocating funds systematically
- snowballCompressed winter precipitation
- avalancheRapid mountain snow collapse
- prioritizationRanking by importance
- allocationDistribution of shares
discipline · timeline · milestones · goals · cashflow · windfall · bonus · sacrifice
amortization
Gradual debt reduction schedule
- principalChief school administrator
- reductionMaking something smaller
- outstandingExceptionally good or unpaid
balance · liquidation · retirement · redemption · clearance · settlement · defrayal · installment · obligation · liability
principal
Chief school administrator
- amortizationGradual debt reduction schedule
- borrowerOne who takes temporarily
- lenderOne who loans money
installment · term · outstanding · schedule · collateral · default · creditworthiness · forbearance · deferment
principal
Chief school administrator
- amortizationGradual debt reduction schedule
- homeownershipLegally possessing residential property
- equityImpartial treatment or ownership value
refinance · underwater · escrow · foreclosure · lender · borrower · term · fixed-rate · adjustable-rate · biweekly
budgeting
Allocating funds systematically
- snowballCompressed winter precipitation
- avalancheRapid mountain snow collapse
- prioritizationRanking by importance
allocation · discipline · timeline · milestones · goals · cashflow · windfall · bonus · sacrifice · commitment
- loan paymentsloan balance, installment, autopay, lump sum, payback
paydownborrowing
Temporary taking of another's
drawdown · leveraging · accumulation · accrual · refinancing
paydownpayoff
Culminating benefit received
discharge · final payment · balloon payment · lump sum payment
paydownindebtedness
State of owing money
default · delinquency · overleveraging · debt spiral · nonpayment