Sentences with phrase «loan after the introductory period»

Keep in mind that some people will use a balance transfer initially and will refinance the remaining debt into a consolidation loan after the introductory period expires and the rate increases.

Not exact matches

The amount by which an adjustable - rate mortgage's interest rate can jump is capped in the loan terms, so your lender can't suddenly slam you with a 20 % interest rate after your introductory period ends.

After the introductory period, your rate can jump, and it can adjust more than once during the loan term.

After the introductory rate periods end, the loans then adjust periodically according to their caps, margins, and the indexes which the loans are tied to.

With an adjustable rate mortgage, the loan will begin to adjust up or down after the introductory period comes to an end according to the loan's index, caps, margin, and rate.

Borrowers should feel confident, when taking out their loans, in their ability to refinance after the introductory rate periods end.

Option ARM loans are available with an initial introductory period, usually of 1, 3 or 6 months, after which the interest rate may change.

Adjustable - rate mortgage: ARM loans have an interest rate that's fixed for an introductory period, after which it can fluctuate annually over the loan's remaining life span.

But be careful, your interest rate and monthly payment will increase after the introductory period, which can be 3, 5, 7 or even 10 years, and can climb substantially depending on the terms of your specific loan.

Your payment may go up after an introductory period, so that you would be paying down some of the principal — or you may end up owing a «balloon» payment, a lump sum usually due at the end of a loan.

This is because after the introductory period is over credit cards usually carry a much higher interest rate than your initial loan itself.

The interest rate on the 1 - year and 3 - year versions can not increase by more than 1 % per year after the introductory period or by more than 5 % over the life of the loan.

An ARM is a loan that offers a low introductory interest rate that «resets» after a set period of time, whether it's one year from your closing date or five years or more.

Adjustable - rate mortgage: ARM loans have an interest rate that's fixed for an introductory period, after which it can fluctuate annually over the loan's remaining life span.

An adjustable - rate mortgage (ARM) is a loan that comes with a low introductory rate that, after a period of between one and 10 years, can adjust upwards or downwards.