Sentences with phrase «cost of borrowing money over»

So, APR refers to the yearly cost of borrowing money over the entire term of the loan.

Prepaid or interim interest represents the cost of borrowing money over the period of time between your mortgage closing date and the date of your first payment.

Compared to the APR, interest rate can describe the cost of borrowing money over any period of time - it doesn't have to be a year.

Not exact matches

This is because most private student loan lenders offer extended repayment plans and variable interest rates that seem lower at the onset of a loan refinance, saving borrowers money on their monthly payment as well as on the total cost of borrowing over time.

Typically, the loan will be paid back over a set period of time, known as the loan term, and you'll be charged a percentage of the remaining balance in interest each month as a cost of borrowing the money.

Hardening its resolve that the days of ultra-cheap money must come to an end, the central bank Tuesday stopped describing higher borrowing costs as a possibility, stating unequivocally that «over time, some modest withdrawal of monetary policy stimulus will likely be required.»

Probably pay more in interest on the additional money borrowed for fuel saving tech than what they saved in fuel cost unless there is exceptional fuel savings over long period of time.

Your bad credit loan, as mentioned above, will cost more for you over the long run than borrowing the same amount of money would if another borrower with great credit took out the loan.

A HELOC can also be a good option if you plan to borrow smaller amounts over a longer period of time, just remember to weigh the benefits of borrowing money against the costs of closing a loan, which may include application, appraisal, and title fees.

Annual Percentage Rate (APR)-- This is the annual rate charged for borrowing money, and is expressed as a percentage that represents the yearly cost of funds over the term of the loan.

Over the last couple of years the cost of borrowing money for longer - periods for the peripheral European countries has been below the average coupon rate of their existing debt.

You should also understand that this scenario means you're effectively paying these closing costs with interest over the life of the loan, because you're borrowing more money.

• Because the cost of a mortgage is calculated as an annual interest rate, and you are borrowing the money for half as long, you will much less to borrow money for 15 years — usually less than half of what you'd pay over 30 years.

The combined effect of the faster amortization and the lower interest rate means that borrowing the money for just 15 years would cost $ 79,441, compared to $ 215,609 over 30 years, or nearly two - thirds less.

The amount you can borrow will depend on the cost of attendance for your school, but there are loan limits, which means you can only borrow a certain amount of money over the course of your schooling.