Sentences with phrase «less interest over the life of the loan»

You do pay less interest over the life of the loan with a lower rate — obvious.

In this plan, your mortgage payments are somewhat higher than a longer - term loan, but you pay substantially less interest over the life of the loan and build equity more quickly.

This results in paying less interest over the life of the loan.

By refinancing multiple loans into one loan with a lower rate, you will accrue less interest over the life of the loan, saving you money on a monthly basis and over the course of the loan.

On the one hand, low rates help borrowers reduce a monthly mortgage payment, afford more «house», and pay astoundingly less interest over the life of a loan.

If you're able to afford Standard Repayment Plan payments, it is in your best interest to make payments using this plan as you will pay less interest over the life of your loans on this plan.

While you pay about 8 percent more a year towards the loan's principal than you would with the 30 - year, one - payment - per - month loan, you pay substantially less interest over the life of the loan.

Choosing to pay your loan early will result in paying less interest over the life of the loan, but you may face steep prepayment penalties or exit fees if you aren't careful when picking your loan terms.

Since you are paying off the same amount of money in half the time, your monthly payments will be higher, but you will pay less interest over the life of the loan.

Often a smart way to adjust your financial situation, the options are varied — change the duration of your mortgage, pay less interest over the life of the loan, switch between fixed - rate and adjustable - rate mortgages or take cash out of your equity.

Refinancing your student loans allows you to lower the interest rate on your loans, which could help you pay off your loans sooner, meaning you'll pay less interest over the life of your loan.

«With a shorter loan term you pay less interest over the life of the loan and pay off your loan in faster.»

As you can see, even though the loan term is a little longer than we recommend, but because of the much lower interest rate, he's able to BOTH lower his monthly payment by 35 % and pay over 50 % less interest over the life of the loan.

You'll pay less each month and less interest over the life of the loan.

In addition to making the monthly payment more manageable, lower interest rates also mean you pay less interest over the life of the loan.

Lower term loans have higher monthly payments and pay less interest over the life of the loan, take less time to build equity and pay off the mortgage

One of the main benefits to consolidating debt is to pay less interest over the life of the loan and to pay debts down faster.

Have more of your monthly payments applied to your principle, pay off your mortgage faster and pay less interest over the life of your loan.

That means you end up paying less interest over the life of a loan.

That means that your monthly payments are likely to be much higher, but since the loans are shorter, you might pay less interest over the life of your loan.

Borrowers find that this allows them to pay less interest over the life of the loan, providing them with valuable savings.

However, shorter terms mean you pay less interest over the life of the loan.

You may pay more per month with a shorter term, but you'll be paying less interest over the life of your loan.

Since you are paying off the same amount of money in half the time, your monthly payments will be higher, but you will pay less interest over the life of the loan.

First, you will pay less interest over the life of your loan.

Not only will you pay less interest over the life of your loan and shave years off your mortgage term, an additional principal payment here and there will also help you gain equity in your home at a faster pace.

As I noted earlier, this is intended for debt - averse consumers or for people who just want to get out from under their home loans and other amortized / installment debt in less time and pay less interest over the life of the loan.

While your payment may be higher, you'll likely qualify for a lower interest rate and will pay less interest over the life of the loan.