Sentences with phrase «changes over the course of a loan»

This is different from an adjustable rate mortgage (ARM), that has interest rate changes over the course of a loan.

With an adjustable - rate mortgage, the interest rate homeowners pay changes over the course of the loan at set intervals.

Fixed interest rates do not change over the course of the loan.

Not exact matches

Because these loans are short term, the direct lenders can consider a different group of approval criteria than a bank or credit card might; people's circumstances can change drastically over the course of years or even months, but since payday loans are repaid within weeks, your current employment situation and income are the most important factors and are easily assessed!

Of course, the only problem is those rates change over time, and they can grow to become unmanageable if you take a while to pay off your loan.