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#2283673 - 04/20/23 09:38 PM Maturity date
Anonymous
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On an installment loan, what is the date that is used to count from to calculate maturity date? Is it the contract date (date note was signed) or first payment date?

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#2283674 - 04/20/23 09:46 PM Re: Maturity date Anonymous
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
It would be the date of the last scheduled payment - otherwise I have no idea what you mean. The maturity date could be anytime. A week from now, March 16th of 2026 or any other date imaginable. What is the basis of your question.
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#2283754 - 04/24/23 06:28 PM Re: Maturity date Anonymous
Anonymous
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The question is (sorry i was not clear) what date is used to determine maturity date on an installment loan when calculating the date. Would it be from the date of closing and add # of years/months from there?

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#2283761 - 04/24/23 08:25 PM Re: Maturity date Anonymous
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,517
Bloomington, IN
Loan closes on 4/24/23 with the first payment due 5/24/23. There are 24 monthly payments. The maturity date will be be 4/24/25 which would be when the 24th payment would be due.
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#2283764 - 04/24/23 09:22 PM Re: Maturity date Anonymous
Rocky P Online
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Joined: Jun 2003
Posts: 7,650
Florida
Another example.
And if the loan closed 4/24/23 with 24 payments beginning on 6/1/23, the last payment would be due 5/1/25. The maturity date, unless extended.
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