Per diem interest
Definition
Interest from the day of closing to the first day of the following month. In some cases, however, the borrower can get a credit at closing by making the first payment a month earlier. See Mortgage Closing Date: Does It Matter?
Related Terms Other terms related to 'Per diem interest' starting with the letter 'P' Prepayment, Prepayment penalty, Primary residence, Pick a Payment ARM, Pre qualification 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 | 