Sentences with phrase «more interest over»

However, it's important to understand that opting for a higher interest rates means you'll have a higher monthly payment and pay more interest over the term of the mortgage.

The former option means you'll pay more interest over the life of the loan (as with the Closing Cost Cutter, more on this later).

Yes, you'll pay more interest over a longer time, but your monthly payment will be significantly lower.

With longer loan terms, you pay more interest over time which for 30 - year mortgages, can equal roughly double or more what you'd pay with a 15 - year note.

But you could end up paying significantly more interest over the long term, especially if you keep the loan for many years.

Since an FHA loan permits a lower down payment, you can expect to pay more interest over the life of the loan than you would with a conventional mortgage that necessitates a larger down payment.

In the case of private loans,» borrowers with bad credit scores may have monthly payments that are 20 % to 40 % higher and pay two - thirds to 100 % more interest over the lifetime of the loan as borrowers with excellent credit scores.»

You can try to lower your monthly payments by extending the term of your loan — but know that you'll end up paying more interest over time.

It is entirely possible that you will ultimately pay more interest over the life of a variable rate loan than you will with a fixed rate loan.

Some might pay more interest over time, he said.

If you select a longer loan term, you'll have lower monthly payments and more time to repay your debt — but you'll accrue more interest over time.

Loan consolidation is a good option if you're looking to lower your monthly payments, as consolidating gives you the option to extend the repayment term of your loan — but remember, extending your repayment term also means you could end up paying more interest over the life of the loan.

However, you still have a «cost» by taking a higher rate and thus paying (costing) more interest over time.

You will also pay more interest over the course of your loan.

This means you will pay more interest over the life of the loan (because you're paying interest on the interest) and you'll have to pay a larger total amount when the loan is due.

Do you expect that I will gain more interest over time?

The interest rate offered on a high - yield savings account is generally higher than the interest rate offered on a traditional savings account, meaning you can earn more interest over time and your savings grow more quickly.

But beware — this is usually the result of lengthening your payment term, which means you'll actually have to pay more interest over the life of the loan.

The difference is that you began this process ten years earlier, and so your account was able to generate more interest over time.

However, extending a 10 year loan to 30 years may mean paying more interest over the life of the loan.

Although the loan might reduce your payment, a longer term can mean you'll pay more interest over the life of the loan.

You'll also end up paying more interest over the life of the loan than you would with a principal and interest loan.

Since you will double the repayment period from the standard 10 year repayment to 20 or 25, you will pay more interest over the life of the loan.

You may also make the monthly payable amount more affordable by extending the term of the new loan; however, keep in mind that you will end up paying more interest over the total period.

Keep in mind though, a longer term means more interest over time.

If your monthly payment decreases, it's likely the result of lengthening the term, which can mean paying more interest over time.

Longer loan terms will lower your monthly repayment, but you'll be paying more interest over the term of the loan.

These plans may reduce your monthly payment but extend over more months, which will lead to you paying more interest over time.

As a result, you will benefits by decreasing the amount you owe on a month - to - month basis, but you will pay more interest over life of the loan consolidation term.

Even if you get a lower interest rate, the new loan could have a longer repayment period, which could mean more interest over the long run.

Consolidating also extends the life of the loan usually, so if needed, you have more time to pay back the loan (although keep in mind that this means accumulating more interest over the years).

Like the Graduated Plan, the Extended Plan allows you to decrease your monthly payment amount compared to the other plans, but will result in more interest over time.

Keep in mind, however, that paying your loans over a longer amount of time usually means that you will pay more interest over the lifetime of your loan.

Longer term loans have lower monthly payments and pay more interest over the life of the loan, taking longer to build equity and pay off the mortgage

You can expect to pay much more interest over time in this case.

First, while extending the length of your mortgage should cut your monthly payments, it also means paying more interest over the life of the loan.

But nevertheless, you will pay even more interest over the life of the mortgage.

The most obvious disadvantage to this plan is that you will pay more interest over the life of your loan.

However, you will also pay more interest over the life of the loan because the repayment period is longer.

While the 30 - year loan offers a more comfortable payment, you will lend up paying more interest over the longer term.

While extending the repayment term may lower your monthly payment, you may end up paying more interest over the life of your refinance loan.

you'll pay more interest over the course of your car loan though.

When a loan repayment schedule is spread over a longer time period, car buyers end up paying more interest over time.

Conversely, a 30 - year loan offers lower monthly payments, but you'll pay more interest over those 30 years.

If you are only paying the minimum on your credit cards each month, it can result in significantly more interest over the long - term.

That will result in paying more interest over the life of the loan.

You could end up paying more interest over the life of your loan because your monthly payment amounts are lower and the life of the loan is extended.

With student loan refinancing, you can pick a term that fits your financial needs and may save you money, but if you extend the term of any loan in an effort to lower monthly payments, you will pay more interest over the life of the loan.

But you could end up paying significantly more interest over the long term, especially if you keep the loan for many years.

The term of a 30 year fixed rate mortgage is long and consequently you pay more interest over the life of the loan.