Sentences with phrase «compounds over the term of the loan»

Not exact matches

But what about those more complex calculations, such as the cost to break your mortgage or the ability to compare three mortgage options while determining your effective interest rate (that's the rate you actually pay when you factor in compounding interest over the term of the loan)?

APR is an annual percentage rate so most other loans will be taken out over a minimum of 1 year, and when you consider the compound interest over this term can add up.

The rate is calculated in a standard way, taking the average compound interest rate over the term of the loan, so borrowers can compare loans.