In a mortgage loan, what is the term for the amount of interest paid by the borrower at the end of the loan period?

In a mortgage loan, the term for the amount of interest paid by the borrower at the end of the loan period is identified as the total interest. This refers to the cumulative interest that accrues on the principal amount borrowed throughout the life of the loan, which is typically calculated using the loan's interest rate and payment schedule.

The total interest is critical for borrowers as it represents the cost associated with borrowing money over time. Understanding this figure helps borrowers assess the overall financial implications of their mortgage, including how interest impacts their total payments and the length of time it will take to pay off the loan.

The outstanding balance refers to the amount that is still owed on the loan at a particular time, which does not specifically quantify the interest paid. Prepayment penalties are fees that lenders may charge if a borrower pays off their mortgage early, rather than relating to the interest amount paid over the loan's life. Adjustable payments refer to loan payments that can change over time due to fluctuations in interest rates, and do not directly pertain to the total interest paid.