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Prepaid Interest
Glossary
Definition: Interest you pay at closing to cover the period from the the time the bank funds your loan (the day before or day of closing) to the date your first payment is due.Glossary
Definition: Interest you pay at closing to cover the period from the the time the bank funds your loan (the day before or day of closing) to the date your first payment is due.©2009 About.com, a part of The New York Times Company.
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