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Mortgage Glossary

Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:

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Per Diem Interest

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The amount of interest owed that is accumulated between the date of completion of the property purchase and the date on which the first payment is made. This amount is either added to the capital of the loan or is paid for as part of the fees initially.

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