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Houston Mortgage > Glossary > Debt Management > I 1-10

Interest
1. Money paid for a borrower’s use of money, calculated as a percentage of the money borrowed and paid over a specified time. 2. A right to, or share of, title to property.

Interest rate
The amount charged per year on a personal or home loan. The rate varies according to the type of loan. Or, the percentage of interest paid for money in deposit accounts, without regard to compounding, shown as an annual figure.
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