Sentences with phrase «entire duration of the loan»
Using the last row as an example, for a loan term over 15 years and an LTV over 90 %, the borrower must pay an MIP the entire duration of the loan term.
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Though monthly payments are significantly lower here, they will last the entire duration of your loan.
Even though this means a lower monthly payment, the total amount you pay in interest over the entire duration of your loan will likely be more.
The rates will take the same direction as the financial markets and lock in for the entire duration of the loan rather than change every year.
However, the benefit is that your payment would stay the same for the entire duration of the loan.
That means, you can still be on the hook for the entire duration of the loan.
As the name suggests, the interest rate on a fixed mortgage does not change at all during the entire duration of the loan, which is typically 30 years.
Mortgage interest rates are established at the time the mortgage is acquired (locking - in), and remain the same for the entire duration of the loan.
If you opt for a fixed rate mortgage Canada (FRM) your rate of interest gets locked for the entire duration of the loan.
«We were able to obtain a very low, fixed - rate loan for the entire duration of loan term, with only one rate - lock and rate locked prior to initial closing,» Davis stated.