Prepaid Interest
Interest owed from the closing date to the end of the first month, computed per day: (loan x annual rate / 365) x days.
| Audience | Name |
|---|---|
| Engineering (code) | — |
| Design (UI label) | — |
| Borrower-facing | interest you pay upfront at closing for the rest of the month |
| Do not use | — |
Sources
- Clarity Engine Glossary — Prepaid Interest