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

Backup Contract

Secondary written agreement to purchase real property in the event the initial contract is not signe ...

Break-even

(1) Occupancy rate at which rental income of a property pays for operating expenses and debt service ...

Stated Amount Endorsement

Addition to a property policy providing coverage for a specified amount. This endorsement is typical ...

Underimprovement

An improvement to property that is below the standard, usual expectation. An example is when a con ...

Rural-urban Fringe

Area that is located between a rural and urban area. ...

Federal Housing Administration (FHA)

Federal agency within the Department of Housing and Urban Development that provides financing to hom ...

Related Real Estate FAQ

What Type Of A Home Is A Condominium?

A condominium is a form of home ownership in which the owner owns the airspace within the walls but ...

What Is A Lock In?

A lock in guarantees a certain interest rate for a certain period of time. ...

What Are The Benefits Of Liability Insurance?

General Liability Coverage includes: Bodily Injury Liability Coverage: Help protect you in case ...

What Is A Qualifying Ratio?

A qualifying ratio is the percentages a lender compares to see whether you qualify for a loan. ...

How Much Income Do I Need ?

Mortgage companies use ratios to analyze your mortgage payment. The housing payment ratio (or front ...

What Are Comparables Or Comps?

Recently sold properties that are similar in size, location, and amenities to the home for sale. The ...

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

When to Dispute Your Home Appraisal Tax Breaks for the First Time Home Buyer How to become a real estate agent What Must I Disclose When Selling My Home? How To Get A Loan with Bad Credit

FAQ

What is an origination fee? What is a loan-to-value (LTD) ratio? What is an adjustable-rate mortgage (ARM)? What is a spec house? What is underwriting?