Add On Interest


Definition of "Add-on-interest"

Interest that is figured into the total cost of a loan over its entire life. The interest is added to the principal and divided by the number of monthly payments to determine the amount of the monthly payment.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Fixed-amount Settlement Option

Choice of beneficiary in which the death benefit of a life insurance policy is retained by the compa ...

Water Damage Insurance

Protection in the event of accidental discharge, leakage, or overflow of water from plumbing systems ...

Plaintiff

Party who asserts a claim against another party in a legal proceeding. ...

Umpire

Arbitrator who settles disputes over the amount of loss when an insurer and an insured do not agree. ...

Musical Instruments Insurance

Coverage for musicians and other providers of musical services such as musical instrument dealers. M ...

Pueblo Or Adobe

House modeled after the dwellings constructed by the Pueblo Indians in the American southwest. A pue ...

Related Real Estate FAQ

What Is A Sales Contract?

A sales contract is the contract you draw up when you want to make an offer on a home. ...

What Is A Commitment Letter?

A commitment letter is a formal offer of a loan by a lender. The letter states the terms under which ...

What Is The APR For This ARM Loan?

This APR Calculator can be used to estimate the Annual Percentage Rate for a loan based on input par ...

Do I Need Earthquake Insurance?

If you live in an Earthquake zone. Yes! Typically most homeowners insurance insurance coverage would ...

What Is Freddie Mac?

Freddie Mac is a name for the Federal Home Loan Mortgage Corp., which is a financial corporation cha ...

What Is A Mortgagor?

A mortgagor is the borrower. ...

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

Agents join here
Add our widget on your Website

Real Estate Advice

Why Use a Real Estate Agent? 10 Tips for Homebuyers When to buy a house What Costs Do Buyers and Sellers Pay On Big Day When Escrow Closes? Real Estate Open House - The Dos and Don

FAQ

Should I Consolidate My Debt? What is a loan-to-value (LTD) ratio? What is a basic policy? What if the computer I want to insure is homemade or custom-built? What is a lease purchase mortgage?