Tag Archives: Interest Rate Differential

Mortgage Penalties Explained

Posted in: Payless Penalty | March 7, 2013 at 9:58 pm, by admin

Mortgage Penalties Explained. Basic in’s and out’s of a mortgage penalty. There are two types of mortgages: open and closed. Open mortgages can be paid off at any time without penalties, but the cost of...

Interest Rate Differential

Posted in: Payless Penalty | March 7, 2013 at 12:53 am, by admin

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Interest Rate Differential (IRD). Understand how IRDs are calculated(at least the one’s we know…). Typically, mortgage penalties are calculated using the greater of three months interest or the Interest Rate Differential (IRD). But...