Updated October 28, 2016. Exterior walls can be finished with a wide array of materials and techniques. Exterior wall finishes can produce significant savings for the contractor as well as for the building occupant and there are many options that will protect you from fire, heat, snow and that can save some money to you.
When Is Penalty Interest Payable? Penalty interest is payable when money is due, but is not paid by the due date. This means that late payment of deposit or late payment of the balance of the purchase price at settlement will usually give rise to an obligation to pay penalty interest.
Interest Rate Differential (IRD). The IRD is a compensation charge that may apply if you pay off your mortgage prior to the maturity date, or pay the mortgage principal down beyond the amount of your prepayment privileges.ost closed fixed-rate mortgages have a prepayment penalty that is the higher of 3-months interest or the IRD. Most variable-rate mortgages do not have IRD penalties. Here is a calculator that letâs you estimate your mortgage penalty. Edit the figures in yellow and press Tab after each edit.