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mortgage constant
mortgage constant definition - business
mortgage constant
The ratio of annual debt service (payment of principal and interest) to the outstanding principal amount of a mortgage. The mortgage constant is the lender's capitalization rate on a mortgage loan.
The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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