Interest Payment
The dollar amount of interest paid each month. The interest payment is the same as interest due so long as the scheduled mortgage payment is equal to or greater than the interest due. Otherwise, the interest payment is equal to the scheduled payment.
Popular Mortgage Terms
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A contract provision that adjusts the payment on an ARM periodically to make it fully amortizing. ...
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A reverse mortgage program administered by FHA. ...
Limit on the size of payment change on an adjustable rate mortgage. ...
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