Loanfactz Definitions
Glossary of Legal Terms, Loan Terms and Home Construction, Repair and Maintenance Definitions. Some words have more than one meaning. Only those meanings relating to this site will be used.
All of I
Interest
1) The cost you pay to borrow money from a lender, expressed as a percentage of the amount borrowed. The interest is calculated in the monthly payment you make to the lender.
2) Money you have earned on investments such as savings accounts or US savings bonds, etc.
3) A share or title in property.
|