Interest Term Meaning in Real Estate - Guide

A loan borrower has to pay interest on the amount borrowed as a charge.

Kopal Cheema

7 years ago

Published Date: Apr 02, 2018

Updated Date: Mar 27, 2024

Interest is the cost of using someone else's money. When one takes a home loan, he is bound to pay interest on that amount.

Though quoted as an annual rate, interest is calculated as a percentage of loan balance which is paid to the lender periodically.

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