Sentences with phrase «borrowers for early repayment»

Certain personal loans penalize borrowers for early repayment, have high interest rates and poor terms.

Not exact matches

This type of payment makes sense for lenders because it reduces the costs associated with processing a loan payment, and more frequent direct debits (daily or weekly) make it possible for the lender to identify any potential repayment issues early — giving them time to try to help borrowers catch up on any loan payments they may have missed and mitigate larger credit issues down the road.

For cohorts who entered repayment in the 1990s and early 2000s, the median large - balance borrower made gradual progress repaying his or her loan.

This type of payment makes sense for lenders because it reduces the costs associated with processing a loan payment, and more frequent direct debits (daily or weekly) make it possible for the lender to identify any potential repayment issues early — giving them time to try to help borrowers catch up on any loan payments they may have missed and mitigate larger credit issues down the road.

For example, the VA ensure that borrowers do not have to pay any prepayment penalties, whereas the early repayment of the mortgage in full would normally incur penalties of tens of thousands of dollars.

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