0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What is a fixed rate mortgage?
A fixed rate mortgage is a loan with an interest rate that does not change over time. Whatever the interest rate is when the loan is taken out, will be the interest rate for the entire duration of the loan.
When using a payday express loan what is the proper terminology for postponing the payment until next payday and only paying the accrued interest?
When using a payday express loan, the proper terminology for postponing the payment until next payday and only paying the accrued interest is called an interest only loan
How much interest is added on to a mortgage loan?
There is no one way to determine how much interest will be added to a mortgage loan without knowing the specifics of the loan. The amount of interest could be as low as 2.7% or 5% or more. The bank, type of mortgage and credit history can all play a part in the interest rate.
How can one obtain a no interest mortgage loan?
You may be able to obtain a no interest mortgage loan by visiting the Federal Housing Finance Agency website. The FHFA have been thinking about offering no interest only mortgage plans, which currently no company does.
What are the interest rates for an FHA loan?
The interest rates for an FHA loan differ depending on the type of FHA mortgage, such as adjustable rate, fixed rate, energy efficient mortgage, graduated payment mortgage, etc.
What is the journal entry for mortgage loan in accounting books?
For a mortgage payment, the only amount that should be listed in the Mortgage Loan Payable section is the principal amount. Any interest that has accrued is reported as Interest Payable.
Is the interest accrued on a student loan simple or compound interest?
its compound interest
What is the journal entry to record accrued interest on a mortgage?
(debit) interest income (credit) (debit) interest income (credit)
What is a fixed rate mortgage?
A fixed rate mortgage is a loan with an interest rate that does not change over time. Whatever the interest rate is when the loan is taken out, will be the interest rate for the entire duration of the loan.
When using a payday express loan what is the proper terminology for postponing the payment until next payday and only paying the accrued interest?
When using a payday express loan, the proper terminology for postponing the payment until next payday and only paying the accrued interest is called an interest only loan
What does interest capitalization mean?
Capitalization occurs when your lender or loan servicer adds the amount of unpaid, accrued interest on your student loan to your loan balance. Once this interest has been capitalized, interest begins to accrue on that new, higher loan balance.
What is the treatment of Interest on Debentures Accrued but not due in the Co's Balance Sheet?
In the Co's Balance Sheet: Interest on Debenture Accrued but not due is to be taken under the head Current Liabilities. Where as Interest on Debenture Accrued and Due is taken under the head Secured Loan.
How much interest is added on to a mortgage loan?
There is no one way to determine how much interest will be added to a mortgage loan without knowing the specifics of the loan. The amount of interest could be as low as 2.7% or 5% or more. The bank, type of mortgage and credit history can all play a part in the interest rate.
How can one obtain a no interest mortgage loan?
You may be able to obtain a no interest mortgage loan by visiting the Federal Housing Finance Agency website. The FHFA have been thinking about offering no interest only mortgage plans, which currently no company does.
How is interest from a mortgage taxed?
If you received interest from a mortgage loan you made, it is treated as ordinary income. List it on Schedule B.
What does an interest only loan mortgage accomplish?
An interest only loan mortgage accomplished a few things. These 'things' consist of a very small principle payment, or even just interest only payments.
What are the interest rates for an FHA loan?
The interest rates for an FHA loan differ depending on the type of FHA mortgage, such as adjustable rate, fixed rate, energy efficient mortgage, graduated payment mortgage, etc.
