Account Terms
Original Loan Amount: Definition
The initial amount borrowed on an installment account.
Definition
Original Loan Amount is the initial principal amount borrowed on an installment account at origination. This excludes interest and fees that accrue over time. For mortgages and auto loans, this represents the total amount financed at closing.
Examples
25000 = Original loan of $25,000
Usage Notes
- Should not change during account life
- Does not include interest or fees
- Used primarily for installment accounts
Related Terms
More Account Terms
Account Status
A code indicating the current condition of an account.
Account Type
A code specifying the type of credit account.
Account Number
The unique identifier assigned to a credit account.
Amount Past Due
The total amount currently overdue on an account.
Current Balance
The total outstanding balance on an account.
Credit Limit
The maximum amount of credit available on a revolving account.
Highest Credit
The highest balance ever recorded on the account.
Scheduled Monthly Payment Amount
The regular monthly payment due on an account.
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