Interest due
Definition
The amount of interest, expressed in dollars, computed by multiplying the loan balance at the end of the preceding period times the annual interest rate divided by the interest accrual period. It is the same as interest payment except when the scheduled mortgage payment is less than the interest due, in which case the difference is added to the balance and constitutes negative amortization.
Related Terms Other terms related to 'Interest due' starting with the letter 'I' Interest only mortgage, Interest accrual period, Interest cost, Internet mortgages, Interest rate increase cap Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 