interest payment on a loan
61Per Diem Interest — The interest charge on a loan for one or more days. This does not necessarily mean that the interest on the loan compounds daily, per diem interest simply refers to the amount of interest that is due for one day that a loan is outstanding. For… …
62VA loan — A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs. The loan may be issued by qualified lenders. The VA loan was designed to offer long term financing to American veterans or their surviving… …
63Add-On Interest — A method of calculating interest whereby the interest payable is determined at the beginning of a loan and added onto the principal. The sum of the interest and principal is the amount repayable upon maturity. For example, let s say Bank A… …
64Cumulative Interest — The sum of all interest payments made on a loan over a certain time period. On an amortizing loan, cumulative interest will increase at a decreasing rate, as each subsequent periodic payment on the loan is a higher percentage principal and a… …
65Balloon Loan — A type of loan which does not fully amortize over its term. Since it is not fully amortized, a balloon payment is required at the end of the term to repay the remaining principal balance of the loan. Balloon loans can be attractive to short term… …
66non-performing loan — ➔ loan1 * * * A loan on which neither interest payment nor principal repayment is being made. When a bank has such a loan on its books, it can either write it off against profits immediately or make loan loss provisions ready to make such a… …
67Odd-Days Interest — Interest that is earned from a mortgage or other loan with closed end installments that contain a nonstandard payment period. In most cases, the additional interest is added on to the first payment. All remaining payment periods are uniform,… …
68level payment loan — loan which is paid off in a set number of equal payments including interest (first the interest is set and then the principal is set) …
69Mortgage loan — Mortgage redirects here. For other uses, see Mortgage (disambiguation). Finance Financial markets …
70FHA loan — is a federal assistance mortgage loan in the United States insured by the Federal Housing Administration. The loan may be issued by federally qualified lenders.FHA loans have historically allowed lower income Americans to borrow money for the… …
