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.
What is the Principal on a Loan? The word principal means main.. The principal (main) thing to remember about principal as it relates to loans, mortgages, and investments, is that the principal is the major (main) part of the balance of that account. The principal of a loan is the amount borrowed. Interest is calculated on the principal. In a loan amortization schedule, the principal and interest are separated, so you can see which part of your monthly payment goes to paying off the principal, and which part is used to pay interest.