Loan Payments

Definition:

Loan payments are the regular payments that you make to a lender to repay a loan. They typically consist of two parts: principal and interest. 

Example: 

The amount of your loan payments will depend on the amount of the loan, the interest rate, and the term of the loan. For example, if you borrow $200,000 at an interest rate of 5% for a 30-year term, your monthly payments would be about $1,000.