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.



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(5) Real Estate Agents found in Hollywood city.

  • Elizabeth Castro

    L.M.G Realty INC.

    Elizabeth Castro

    Mobile: 305-962-8744    Office: 305-962-8744   

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    "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 real estate because of the compl" ... view more

       Fair Housing and Equal Opportunity (FHEO)   REALTOR®   The Multiple Listing Service Mark
  • Diana Mazel Pittarelli

    First Colonial Realty

    Diana Mazel Pittarelli

    Mobile: 954-445-0220
    Assistant (Anna) 954-744-9732
       

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    " Raised in South Florida, and a graduate of Barry University with a masters degree in business management, Diana knows the area and its schools. Diana is dedicated to helping her clients identify and the best neighborhood and home for them. Are you looking for an " ... view more

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

    Keller Williams Realty

    Irina Ivkina

    Mobile: 1-305-316-5733    Office: 1-305-316-5733   

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    "I am new to real estate; however, I am very interested in this business and was attending many seminars and workshops, including investments, commercial real estate, creative financing techniques, and many others. I have experience working at the Title Company which pretty much covers my rea" ... view more

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

    Keller Williams

    Ed Rangel

    Mobile: 786-763-5650   

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    "ED RANGEL - REALTOR ASSOCIATE - AT NINETEEN(19) YEARS OF AGE, ED RANGEL WAS A PROFESSIONAL FRAMER AND DRY-WALLER,LATER ON TO BECOME LICENSED IN THE STATE OF CONNECTICUT AS SUCH. WITH AN EARLY START IN THE REAL ESTATE WORLD,AT THE AGE OF TWENTY ONE(21), AS AN INVESTOR, A LITTLE OVER FOURTEEN " ... view more

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

    I Deal Real Estate inc

    Doraine Matthews

    Mobile: 954-444-5724    Office: 954-966-0611 ext 209   

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    "I have been in the real estate services business in the Hollywood real estate markets for many successful years and will be here for many more. This longevity and confidence comes from my real estate services to a great many buyers and sellers, and their recommendations to others that result" ... view more

       CRS®, Certified Residential Specialist®   Fair Housing and Equal Opportunity (FHEO)   REALTOR®   SRES®, Senior Real Estate Specialist   The Multiple Listing Service Mark

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