Interest Payment

Definition of "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.

Search Real Estate Glossary

Related Real Estate Glossary terms

Air Rights

Rights to the use of open air space over property. ...

Menace

Threat of violence to obtain a contract. ...

Cost Of Insurance

Value or cost of the actual net protection, in life insurance, in any year (face amount less reserve ...

Associate In Risk Management (arm)

Professional designation earned after the successful completion of three national examinations given ...

Default Charge

Penalty charged if an amount owed on the purchase of real estate is not paid on time, ...

Grade

The ground elevation at the building site. The portion of a building structure which is over the ...

Related Real Estate FAQ

What Is An Annuity?

An annuity is a long-term, interest-paying contract offered through an insurance company or financia ...

What Is A Multiple Listing Service (MLS)?

A multiple listing service is a computerized listing of the homes for sale in an area listed with a ...

What Is A Contingency?

A contingency is a provision included in a sales contract stating that certain events must occur or ...

What Is A Proprietary Lease?

A proprietary lease is lease used for co-ops that give the shareowners the right to live in a partic ...

What Is Equity?

Equity is the financial interest or cash value of your home, minus the current loan balance(s). If s ...

Do I Need Flood Insurance?

Over 90% of all presidential-declared disasters in the United States are flood related. Leveling for ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

What Must I Disclose When Selling My Home? What is Earnest Money Tax Breaks for the First Time Home Buyer What Costs Do Buyers and Sellers Pay On Big Day When Escrow Closes? How To Sell Your Home

FAQ

What is a closing? What happens when you prequalify? What is a subprime mortgage? What are my coverage options? What is a Ginnie Mae?