Per Diem Interest - Glossary Real Estate Tags

Per Diem Interest

Interest from the day of closing to the first day of the following month. To simplify the task of loan administration, the accounting for all home loans begins as if the loan was closed on the first day of the month following the day the loan is closed. For example, if the loan is closed and the money disbursed on May 15, the clock begins ticking on that loan as if it were closed on June 1, with the first payment due July 1. But since the lender actually gave you the money on May 15, the lender expects to be paid interest for the period between May 15 and June 1. That payment is the 'per diem interest,' which is due at closing. If the loan in the example above was $100,000 and the interest rate 6%, the per diem interest would be $100,000 x .06/365 x 17, or $279. In some cases, especially when a loan is closed early in the month, the lender is willing to rebate interest to the borrower for those few days and collect the first payment a month earlier. If the loan above was closed May 3, for example, the lender would pay three days of interest at closing and collect the first monthly payment on June 1.



Real Estate Dictionary of Real Estate Terms

Definition of Real Estate Terms

Are you confused and overwhelmed by the extensive lexicon of real estate terms and words? Well look no further, here is where the PROS go. Real Estate Glossary

Every person working in real estate or planning to buy or sell real estate can benefit by using our free real estate dictionary. This dictionary of real estate terms is the most extensive in the industry and is used by many *real estate agents, real estate brokers, mortgage brokers, Realtors *and instructors in major real estate schools across the country and the world.


If you are interested to: Buy a Home in Hollywood, Sell a Home in Hollywood, Rent a Home in Hollywood, Commercial in Hollywood

(5) Real Estate Agents found in Hollywood city.

  • My Real Estate Broker, Inc.

    Jessica Roberts

    Mobile: 305-333-0335    Office: 954-727-9177   

    Send Email Website Agent Listings Driving Directories

    "Jessica Roberts earned her Master's Degree in Business Administration from Nova Southeastern University. As president and broker of My Real Estate Broker, Inc. for the past 13 years, Ms. Roberts is responsible for all phases of real estate transactions from the acquisition of property throu" ... view more

       Fair Housing and Equal Opportunity (FHEO)   REALTOR®   The Multiple Listing Service Mark
  • Chariff Realty Group

    Rolando Bazail

    Mobile: (786) 223-0207    Office: (305) 576-7474   

    Send Email Website Agent Listings Driving Directories

    "" ... view more

       Fair Housing and Equal Opportunity (FHEO)   GRI Graduate REALTOR Institute   REALTOR®   The Multiple Listing Service Mark
  • Keller Williams Realty

    Erika Vergara

    Mobile: (954) 806-1025   

    Send Email Website Agent Listings Driving Directories

    "Buy or sell real estate property. The purchase or sale of a home or investment property is one of the most complex and significant financial events in peoples' lives. People typically seek the help of real estate brokers and sales agents when buying or selling re" ... view more

       Fair Housing and Equal Opportunity (FHEO)   REALTOR®   The Multiple Listing Service Mark
  • First Colonial Realty

    Diana Pittarelli

    Mobile: 1-954-445-0220   

    Send Email Website Agent Listings Driving Directories

    "My Commitment to You In the least amount of time possible, I will get you the best price on a home that is perfectly suited to your needs and lifestyle, not just today, but for years to come. The Best Service, The Best Results Choosing a real estate" ... view more

       Fair Housing and Equal Opportunity (FHEO)   REALTOR®   The Multiple Listing Service Mark
  • Coral Shores Realty

    Susan Weaver

    Office: 1-954-668-9056   

    Send Email Website Agent Listings Driving Directories

    " "Professional Service with a Personal Touch" I specialize in vacation condos & single family homes in the Southeast Florida beach and downtown areas of Hollywood, Hallandale Beach, Fort Lauderdale Beaches and Sunny Isles Beach. I also specialize in relocation, for m" ... view more

       Fair Housing and Equal Opportunity (FHEO)   REALTOR®   The Multiple Listing Service Mark

If you are interested in other Real Estate Glossary terms


Agents join here