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Applied or nominal interest rate
The mortgage definition for
Applied or nominal interest rate
:
The rate used to calculate the interest due.
Similar Matches
Add on interest
Add on interest
The interest a borrower pays on the principal for the duration of the loan.
Compound interest
Compound interest
The interest paid on the principal balance in a mortgage and on the accrued and unpaid interest of the loan.
Daily interest
Daily interest
Interest on the homeloan is calculated and applied on a daily rather than a monthly or yearly basis. Can lead to big savings.
Further Suggestions
Deferred interest mortgage
Incidence of interest calculation
Interest accrual rate
Interest only mortgages
Interim interest
Variable interest rate
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Applied or nominal interest rate
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