What is a simple mortgage?

Answer Getting a loan for a home can be tricky; it's a technical field with its own jargon and a wide variety of products out there. One of the more commonly misunderstood products in the mortgage industr... Read More »

Top Q&A For: What is a simple mortgage

What is a fixed simple interest mortgage loan?

A fixed simple-interest mortgage loan is one in which the interest rate remains unchanged and is calculated daily, as opposed to a traditional mortgage payment that is calculated on a monthly basis... Read More »

Simple Interest Vs. Traditional Mortgage?

In a simple interest mortgage, the interest is calculated daily; with a traditional mortgage, the interest is calculated monthly. Which one is right for you depends on how timely you expect to be w... Read More »

Does a simple interest mortgage charge interest?

A simple interest mortgage does charge interest, but it is calculated differently that on a traditional mortgage. Simple interest is based on the balance of the loan each day, as opposed to each mo... Read More »

What Do Mortgage Companies Charge When a Home Mortgage Is Paid Off?

Selling or refinancing a home usually involves paying off an existing mortgage. In calculating a payoff, which will satisfy and zero out the balance, all unpaid fees and interest must be included, ... Read More »