Sentences with phrase «borrower over the lifetime of the loan»
The average borrower utilizing LendKey Network has saved an average of 2.20 % of initial interest rate reduction on their loans, which creates about $ 10,000 in interest expense savings for the borrower over the lifetime of the loan.»
https://www.supermoney.com/ Not exact matches
504 loans can have either a 10 - year term (for equipment) or a 20 - year term (for real estate), giving borrowers the ability to repay the loan over the lifetime of the asset.
However, if they can convince the borrower to use extended repayment, the total profits over the lifetime of the loan are higher.
For example, some lenders have encouraged student to include Perkins loans in a consolidation loan and most lenders encourage borrowers to chose a longer loan term despite the increase in interest paid over the lifetime of the loan.
That would also reduce the total repayment over the lifetime of the loan — saving the borrower thousands in interest over the same 10 years.
Passione: «It really is an economic decision for the borrower; will refinancing save me money now in the form of a lower payment, or over the lifetime of the loan in the form of a lower interest rate?
Many lenders use different interest rates, such as factor rates or simple interest rates, to express the cost of a loan, and many times these rates do not include additional fees that a borrower will pay over the lifetime of the loan (e.g., origination fees, service fees, etc.).
Co-founder Evan Shoemaker said, «On average, our strategies can help borrowers save close to $ 5,000 over the lifetime of their loan repayment and get out of debt 2 years faster» (Yahoo!)
Interest payments are added on to the principal of the loan (with no payments due until the borrower leaves the property) and the amount due on a Reverse Mortgage will never exceed the value of the property, even if the property decreases in value over the lifetime of the loan.
In the case of private loans,» borrowers with bad credit scores may have monthly payments that are 20 % to 40 % higher and pay two - thirds to 100 % more interest over the lifetime of the loan as borrowers with excellent credit scores.»