Total outstanding principal amount

{
  "id": "MLC-T-ECS-001953",
  "term": "Total outstanding principal amount",
  "field": "Economic statistics",
  "definition": "As referenced in the American Housing Survey, principal is the amount of money raised by a mortgage or other loan, as distinct from the interest paid for its use. It is the amount of debt excluding interest. The statistics represent the total amount of principal that would have to be paid if the loans were paid off in full on the date of interview. The formula used to calculate the outstanding principal amount does not take into account the fact that some households make additional principal payments. The resulting data, therefore, may be an overestimate of the total outstanding principal. In the publications, medians for outstanding principal amount are rounded to the nearest dollar. The data include all regular mortgages and lump-sum home-equity, but exclude line-of-credit home-equity loans.",
  "references": [
    "U.S. Census Bureau Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/total-outstanding-principal-amount/"
}