DEFINITION of 'Simple Interest'. A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate by the principal by the number of periods. Where: P is the loan amount.
What exactly is an HOA or Homeowner Association? Who benefits from an HOA? Who is required to have an HOA? What kind of services does an HOA provide? The HOA or Homeowner Association. An HOA or Homeowner Association is a legal entity created to manage and maintain the common areas of a community. Typically these common areas consist of things like pools, clubhouses, landscaping, parks, streets and roads.
HOA is short for Home Owners Association. Typically an HOA will exist when there are some common areas in a development. For single family homes, this could be recreational facilities, hillsides or slopes, streets, walking trails and parks. For condos or townhomes, this would include all of the above plus most likely the exterior of the buildings.