Sentences with phrase «more interest over the life of your loan because»

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.

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

Not exact matches

Borrowers pay more over the life of the loan repayment because of interest accrual in the years when payments are lower.

However, because you're stretching your repayment period over two decades or more, you'll likely pay more in interest over the life of your loan.

Because of one missed credit card payment of $ 15, for instance, the consumer might receive a higher mortgage rate and pay thousands more in interest over the life of a home loan.

However, because payments start out lower, graduates will be paying more interest over the life of the loan.

Borrowers pay more over the life of the loan repayment because of interest accrual in the years when payments are lower.

Because of one missed credit card payment of $ 15, for instance, the consumer might receive a higher mortgage rate and pay thousands more in interest over the life of a home loan.

Having a higher rate is not good thing because it costs more in interest payments over the life of the loan.

However, keep in mind that because of compound interest, the lower payments early on mean you'll be paying more in interest fees over the life of the loan.

You should also understand that this scenario means you're effectively paying these closing costs with interest over the life of the loan, because you're borrowing more money.

Using this plan, you will pay more in interest over the life of the loan because the principal balance will decrease at a slower rate.

However, over the life of the loan, you lose, because you pay $ 42,148 more in interest.

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.

Pay more in interest over the life of the loans because the principal balance will decrease at a slower rate.

Because a reduced monthly payment under the Pay As You Earn plan generally extends your repayment period, you may pay more total interest over the life of the loan than you would under other repayment plans.

An analysis by the Rhode Island Public Expenditure Council found that taxpayers would pay nearly 50 percent more over the life of the project's loan because of interest.