Sentences with phrase «feature of variable rate loans»

Not exact matches

An excellent option for borrowers who plan to move or refinance in the foreseeable future, balloon loans are a simple instrument for short - term mortgage, which have some features of a fixed rate mortgage and others from a variable rate mortgage both combined to create an excellent product.

McKnight does mention variable rate loan provisions and the possibility of gaining positive arbitrage with policies that have this feature.

One of their many flexible features is the fact that you can choose a variable or fixed interest rate for your personal loan.

They first considered a loan with a variable interest rate of 6.5 % but, after comparing online, they found a loan with the features they wanted at a rate of 6 %.

Truth in Lending Act — Requires lenders to disclose the terms and costs of all loan plans, including the annual percentage rate, points and fees, miscellaneous fees, the total of the principal amount being financed; payment due date and terms, late payment fees; features of variable - rate loans, including the highest rate the lender would charge, how it is calculated and the resulting monthly payment; total finance charges; whether the loan is assumable; application fee; annual or one - time service fees; pre-payment penalties; to the member.

Both lenders offer fixed and variable rate loans, both allow for refinancing of federal and private loans, and both feature loan terms ranging from 5 to 20 years.