Sentences with phrase «larger monthly payments because»

In our loan example from above, a change in APR from 3.5 % to 3.0 % and a change in length from 60 months to 36 months will save you $ 446 in interest payments (though you will have larger monthly payments because of the shorter term).

Not exact matches

This type of automatic payment is also good for borrowers because, among other things, it has the potential to help a small business eliminate cash flow lumpiness by making more frequent and smaller debits on a daily or weekly basis as opposed to requiring a large loan payment on a monthly basis — although that is not the only benefit to small business owners.

If your actual family size is larger, but your servicer assumes a family size of one because you didn't recertify your family size, this could result in an increased monthly payment amount or (for the PAYE and IBR plans) loss of eligibility to make payments based on income.

Your monthly mortgage payment might be larger than your other loan payments, but, the interest payment is smaller in proportion because of the lower interest rates.

Because the amount of your down payment is subtracted from the total cost of a house, your loan amount will be smaller with a larger down payment — and so will your monthly payments.

Retiring later also provides the opportunity to get a larger monthly Social Security benefit, because each year a person delays claiming benefits past full retirement age (age 66 for people born between 1943 and 1959; age 67 for people born after) increases the monthly payment by about 8 %.

The interest that you aren't paying because of the lower monthly payment is being tacked on to your mortgage balance until the next interest rate adjustment when your loan will reamortize based on a larger balance, not a smaller balance as should usually happen, hence the term «negative» amortization.

You should also ask yourself how long you plan to keep your home, whether you can afford the larger monthly payment that comes with a 15 - year loan and whether a 30 - year mortgage might allow you to buy a more expensive home because the payments are smaller.

This type of automatic payment is also good for borrowers because, among other things, it has the potential to help a small business eliminate cash flow lumpiness by making more frequent and smaller debits on a daily or weekly basis as opposed to requiring a large loan payment on a monthly basis — although that is not the only benefit to small business owners.

When you make a larger down payment, your monthly payment is reduced because you're borrowing less money.

Many homeowners view escrow accounts as an attractive option for property taxes and homeowners insurance because these bills can be large and infrequent (usually due annually or semi-annually), and being able to pay them in monthly installments with a mortgage payment is more budget - friendly.

If your actual family size is larger, but your servicer assumes a family size of one because you didn't recertify your family size, this could result in an increased monthly payment amount or (for the PAYE and IBR plans) loss of eligibility to make payments based on income.

Because of the tradeoffs surrounding the issue, Hillary's plan is aimed towards those who can afford larger monthly payments but a lower interest rate.

However, even though decisions like Fecek demonstrate that courts may be willing to allow a debtor (even one with a good salary) to at least partially discharge his student loan debt, they does not provide a windfall for the debtors because, like the debtor Fecek, the debtor will still have to make sacrifices to make large monthly payments towards the remaining student loan debt.

These types of policies are popular because the cost of the policy is generally rolled into the car loan and does not usually increase in monthly car payment by a very large amount.

Because you make no monthly payments, the amount you owe grows larger over time.

You can get a mortgage with a shorter loan term and be debt - free earlier, but your monthly payments will be larger because you'll be paying off the same loan in less time.