A suppplemental loan with a maturity that is the same as the senior, or original, loan. Coterminous is most often used to describe mortgage loans, such as those for residential and commercial borrowers.

While a supplemental loan can have a maturity date that occurs after that of the original loan (often called "non-coterminous"), most second mortgage lenders or mezzanine lenders prefer to have both loans mature on the same date. This way, the borrower can choose to refinance both loans into one larger one, preferably with the same lender.

Investment dictionary. . 2012.

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  • Coterminous — Co*ter mi*nous (k? t?r m? n?s), a. [Cf. {Conterminous}.] Bordering; conterminous; followed by with. [1913 Webster] …   The Collaborative International Dictionary of English

  • coterminous — 1630s, malformed in English from CO (Cf. co ) + terminous (see TERMINAL (Cf. terminal)). Latin purists prefer CONTERMINOUS (Cf. conterminous) …   Etymology dictionary

  • coterminous — [kō tʉr′mə nəs] adj. CONTERMINOUS: also coterminal coterminously adv …   English World dictionary

  • coterminous — adjective Etymology: alteration of conterminous Date: 1799 1. having the same or coincident boundaries < a voting district coterminous with the city > 2. coextensive in scope or duration < an experience of life cot …   New Collegiate Dictionary

  • coterminous — adjective a) Linked or related and expiring together. New York Citys borough of Brooklyn and New York States Kings County are coterminous. b) Having matching boundaries; or, adjoining and sharing a boundary. To get a building warrant he had to… …   Wiktionary

  • coterminous — co|ter|mi|nous [kəuˈtə:mınəs US kouˈtə:r ] adj technical 1.) formal having the same pattern or features 2.) coterminous countries share the same border …   Dictionary of contemporary English

  • coterminous — adjective formal coterminous countries share the same border …   Longman dictionary of contemporary English

  • coterminous — UK [kəʊˈtɜː(r)mɪnəs] / US [koʊˈtɜrmɪnəs] adjective formal 1) coterminous areas share a border 2) exactly the same as something else …   English dictionary

  • coterminous — see conterminous …   Dictionary of invertebrate zoology

  • coterminous — coterminously, adv. /koh terr meuh neuhs/, adj. 1. having the same border or covering the same area. 2. being the same in extent; coextensive in range or scope. Also, coterminal /koh terr meuh nl/. [1790 1800; re formation of CONTERMINUS; see CO… …   Universalium

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