Cambodian definition, of, relating to, or characteristic of Cambodia, its people, or its culture. See more.
Outstanding Principal Balance The outstanding principal balance of a mortgage is simply the total amount of money it would take to pay off the loan in full. How much this amount is depends on how much was originally borrowed, how much has been paid down, and what the annual interest rate is.
Your payoff amount is not the same as your mortgage balance. You know what your balance is because it is on your statements. You may also see some verbiage on your statements like âthis amount is not your payoff amountâ or something to that effect and you don't think much of it.