Accrued interest is interest that a borrower has accumulated on a mortgage but not yet paid to the lender. Mortgage interest accrues daily or weekly depending on the loan type, and is based on the loan’s principal balance and the mortgage rate.
Stem Lending is a mortgage broker, helping home buyers comparison shop for their mortgage. Currently available to home buyers in Colorado, Connecticut, New Jersey, Pennsylvania, and Virginia. NMLS: 1648699