|
|
Loan
Repayment:
- Borrowers will
be provided with payment coupons which indicates the date and amount
of each payment due.
- A single monthly
payment of interest and principal will be due and payable each month
for amortized loans.
- A single monthly
payment of interest only shall be due and payable each month for
construction loan notes, beginning the month following the first
disbursement.
- There are no prepayment
penalties; however, prepayments on principal may be made only at the
time of the regular monthly payment. Any partial prepayment of
principal will not relieve the borrower of their requirement to make
the required monthly payments as scheduled
For more information about
our loan services, contact Tamara Hendricks or Manet Shettle at
317-788-7879, 877-391-8811(toll-free) or fax to, 317-788-0089 or e-mail
info
@ umlsm.org.
More Information.
|
|
