Sentences with phrase «during the term of the loan depending»
In this case, the interest rate on the loan (a percentage you agree to pay on the funds borrowed) may change during the term of the loan depending on the economy.
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You have a potential of saving on your Fixed Mortgage Rate Canada, and your decision to go for it will depend largely on the loan term, the current rate of interest, and the chances of the rate of interest on mortgages increasing or decreasing during the lifetime of your mortgage.
Your Interest Rate during the life of a loan: Fixed - Rate Loans Your rate is fixed and will depend on the loan term that you select.
For example, if the loan term depends on the value of interest rate adjustments during the term of the loan, to calculate the maximum loan term, the creditor assumes that the interest rate rises as rapidly as possible after consummation, taking into account the terms of the legal obligation, including any applicable caps on interest rate adjustments and lifetime interest rate cap.