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Interest due refers to the amount of interest (in dollars and cents) which a borrower is scheduled to pay on the loan in a specified period of time within the tenure of the loan.
For example, a $100,000 balance times an interest of 3%/12 would be $250.
On most occasions, interest due would be equal to the interest payment.
And when the monthly payment is more than what the interest due requires, the surplus would be treated as interest payment or go towards reducing the principal.
In this case, what happens depends on the terms in the mortgage contract or the practice of the particular lender.
for the last 36 months?
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