Sentences with phrase «loan of a fixed amount»

Many HELOCs are an open line of available credit, but a second mortgage is usually an outright loan of a fixed amount rather than just an available home line of credit.

Many HELOCs are an open line of available credit, but a second mortgage is usually an outright loan of a fixed amount rather than just an available home line of credit.

Not exact matches

The borrower repays the advance and loan fee by allowing the lender to take a fixed percentage of business credit card sales each day until the entire amount is repaid.

The new loan could have a lower interest rate, both fixed and variable are offered, which could save the borrower a significant amount of money over time in interest payments.

Generally, these loans have a fixed monthly payment — part of that payment goes to principal and a certain amount to interest.

Balloon payments allow borrowers to reduce that fixed payment amount in exchange for making a larger payment at the end of the loan's term.

Under an income - contingent repayment program, borrowers with Direct Stafford loans of any kind, PLUS loans made to students, and consolidation loans have their monthly payment based on the lesser of 20 percent of discretionary income or the amount due on a repayment plan with a fixed payment over 12 years, adjusted for income.

A line of credit is a revolving loan that provides a fixed amount of capital that can be accessed as needed.

There is a limited amount of federal funding for this loan program, and the loans are offered at a low, fixed 5 percent interest rate.

Moreover, the applicants who qualify get up to $ 40,000 of the loan amount with a fixed interest rate.

A term loan involves a fixed amount of funds, which the business receives in a lump sum once the loan is approved.

A business line of credit (LOC) is a revolving loan that allows access to a fixed amount of capital, which can be used when needed to meet short - term business, needs.

For example, a borrower applying for a $ 200,000 30 - year fixed FHA loan will generally have to pay a $ 3,500 upfront insurance fee, which equates to 1.75 % of the loan amount.

If you manage to pay off a 30 - year fixed rate mortgage in only 15 years, you come out ahead financially because you've reduced the amount of interest paid on the loan.

These short - term loans are great for small business owners who need funds in a pinch and who have the ability to pay back on an automated, daily basis as a percentage of their card sales, or, a fixed amount drawn from their business bank account.

Your rate is calculated based on a variety of factors, including credit qualifications, loan - to - value, loan amount and other criteria, but will generally be about the same as other fixed rate and adjustable rate mortgage loans.

Installment loans are fixed sums of money you borrow for a fixed amount of time, although you can pay them off early if you choose (though some lenders charge a fee for this).

The more you are capable of returning the loan along with the interest in the fixed amount of time, the more chances you have of receiving the loan.

A borrower seeking a 30 - year fixed - rate mortgage with a credit score of 735 and making a 10 % down payment, for instance, would pay fees totaling 2 % of the loan amount, up from 0.75 % now.

Debt Financing — The use of repayable funds to support the growth of the company; small business loans and other interest - bearing loans are common forms of debt financing, and create a certain amount of financial risk for the company in the form of new fixed costs.

A car loan is an installment contract with fixed monthly payment amounts and a fixed number of periodic payments.

Conversion charge - If you decide to change your home loan from a fixed rate to a floating rate or vice versa your bank may charge you a «conversion fee» that may add up to 2 % of your total outstanding amount plus service taxes as applicable

VA buyers with a fixed interest rate will pay the same amount toward principal and interest each month for the duration of the loan.

Installment debts are one - time loans that you agree to pay back at regular intervals, generally a set amount over a fixed period of time.

Unlike some other home equity loans that only let you borrow a fixed amount of money for a fixed term, a HELOC offers more flexible spending options and you may be able to «renew» it for future needs.

If after the promotional period ends you will be charged outrageous amounts of interests, it is better to close on a motorcycle loan deal with a slightly higher fixed rate and a flexible repayment schedule which will produce loan installments that you will be able to afford without sacrifices.

The price may be a fixed dollar amount, a percentage of the loan, an hourly charge for the broker's time, or a combination of these.

The type of home loan program, the term of the home loan (30 year fixed, etc.), the dollar amount of the home loan, and the type of home the loan is for all factor into the rates

Standard repayment plans usually require consistent monthly payment amounts, depending on if the loan's interest rate is fixed or variable, and generally help you pay the least amount of interest over the life of the loan.

It's also a fixed loan, which means borrowers pay in fixed installments over a predetermined amount of time.

Once you have taken out a federal student loan, the interest rate on that amount is fixed for the entire life of the loan.

While this may seem like a small amount, due to the short term nature of the loans, any more can be harder to pay back in one fixed amount, with interest, fees and charges added on top.

Bigger banks can lend a bigger amount, some of them ranging up to $ 75,000 with loan term of 20 years and fixed APR of 6.19 %.

A small difference like half of a percentage increase on your loan can seem like hardly anything now, but it can amount to thousands of dollars down the road after years of paying a fixed rate.

The table below displays the amount and weight percentage of net assets for all Bank Loan Bond Funds allocated to other asset classes besides equity and fixed income.

Results are based on a standard repayment plan, where you pay a fixed amount every month for a set number of months, based on your loan term, the prepayment scenario you input above, and assumes:

Fixed payments and the option to pay off early puts you in control of the amount of interest you pay on the loan.

The process can take up to 5 years to get 100 % loan forgiveness and another benefit is that each year, a fixed amount of your loan (principal and interest) is cancelled even if you are not eligible for some reason in subsequent years.

Option to convert your HELOC to a fixed - rate loan for the total loan amount or a portion of the loan.

The calculation assumes an original loan amount of $ 96,672 with a 10 - year term and a rate of 7.041 %, refinanced to a shorter, 5 - year term with a fixed rate of 3.50 % APR, Splash Financial's lowest available 5 - year fixed rate as of 5/1/18.

Under an income - contingent repayment program, borrowers with Direct Stafford loans of any kind, PLUS loans made to students, and consolidation loans have their monthly payment based on the lesser of 20 percent of discretionary income or the amount due on a repayment plan with a fixed payment over 12 years, adjusted for income.

3 Monthly principal and interest («P&I») examples are based upon a loan amount of $ 100,000 and evidence how payments may adjust subsequent to the initial fixed rate period by utilizing the fully indexed rate as a target rate.

The calculation assumes an original loan amount of $ 96,672 with a 10 - year term and a rate of 7.041 %, refinanced to a longer, 15 - year term with a fixed rate of 5.19 % APR, Splash Financial's lowest available 15 - year fixed rate as of 5/1/18.

For example, the Standard Repayment Plan for federal student loans provides the shortest repayment term, however, repayments start at a fixed amount of at least $ 50 per month.

APR calculation for a 30 - year fixed VA purchase assumes a 740 credit score, a single - family, owner - occupied primary residence located in Georgia; a 0 % down payment and a loan amount of $ 225,000, 1 % discount point, with a 45 - day lock period and a financed funding fee.

As with the variable rate loans, fixed rate loans are available in ten year terms, and can be taken out in amounts ranging from $ 2,000 up to the cost of attendance, with a maximum of $ 120,000 (or $ 160,000 for graduate students).

APR calculation for a 30 - year fixed VA purchase assumes a 740 credit score, a single - family, owner - occupied primary residence located in Georgia; a 0 % down payment and a loan amount of $ 225,000, 1 % discount point, and a 45 - day lock period and a financed funding fee.

Currently the vast majority of loans for Fixed Rate product on the market as of today are being offered around 4.99 or 5.06 % interest rates which put those loans right at the floor and allow for borrowers to receive the max potential dollar amount based on their age.

Personal loans offer a variety of benefits to borrowers, including predictable repayment terms, a fixed loan amount, and for the best - qualified borrowers, a relatively low interest rate.

APR calculation for a 15 - year fixed VA purchase assumes a 740 credit score, a single - family, owner - occupied primary residence located in Georgia; a 0 % down payment and a loan amount of $ 225,000, 1 % discount point, and a 45 - day lock period.