Maturity Date
The date on which a loan's full remaining balance is due to be paid off, marking the end of the repayment term.
On a fully amortizing loan, the maturity date is simply when the last scheduled payment brings the balance to zero, while on a loan with a balloon payment, the maturity date is when that larger final lump sum comes due.
Tracking a loan’s maturity date matters for planning ahead, especially for balloon-structured financing where refinancing or another repayment plan needs to be arranged before that date arrives.
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