Sentences with phrase «over the life of the loan because»

If you are in need of a loan, a 700 score may cost you additional cash over the life of the loan because you may be granted a mid-range interest rate instead of the lowest available.

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.

You'll have lower monthly payments, but you will pay much higher interest over the life of the loan because you'll be making smaller payments over a longer time.

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.

If you never pay the loan off it will cost you $ 4,368 over the life of the loan because of the higher monthly mortgage payments.

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

Not exact matches

Because of this, it's possible you could end up with an APR that will cost you more over the life of the loan than you'd pay for an origination fee.

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

«It's very important that students know the interest rate on their student loans, because the interest rate will ultimately determine how much interest they're going to be paying dollarwise over the life of that loan,» said Clint Haynes, certified financial planner and founder of NextGen Wealth.

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.

This is because federal student loans typically have fixed interest rates, which means your rate will remain the same 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.

It would have meant starting the first year again and because my second year fees had already been paid it took me over the limit on how many years you're allowed a loan, I'd be expected to self - fund # 9,250 tuition fees and my living costs for the first year of the new course.

One reason is that, while an APR attempts to blend up - front costs into an average, overall rate you'll pay over the life of the mortgage, with an adjustable - rate loan you really have no way of knowing what that rate will actually be because it will fluctuate as mortgage rates change.

Over the life of the loan, the person with a lower credit score will pay an additional $ 720 because of the higher interest rate.

Because the rate you lock in can significantly affect your monthly payments, as well as the amount you pay over the life of your loan, it's important to get the best deal possible, right from the start.

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

College students should be doing everything in their power to reduce their college expenses and begin paying down their student loans while they're still in school, because this will limit the number of student loans that they'll need, amount of interest that they'll pay over the life of their loans.

Because monthly payments are lower than they would be on a standard or graduated repayment plan for the life of the loan, borrowers pay more over the repayment period.

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

This is because federal student loans typically have fixed interest rates, which means your rate will remain the same 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.

The majority of home buyers get a fixed - rate mortgage, because this guarantees the interest rate they pay will remain the same over the life of the loan.

If you are no longer a student and simply can't make your payments because of difficult finding a job or some other reason, then you should seriously consider at least making payments on the interest as it accrues in deferment or forbearance, as this will save you a lot of money over the life of the loan.

A lower interest rate does not guarantee that a new mortgage will save you money because mortgage closing costs can significantly impact the cost of any mortgage, in the short run and over the life of the loan.

You can also extend the amount of time you pay back your loan, but watch out because this could increase how much interest you pay over the life of the loan.

However, you also should total this cost comparison over the remaining life of each loan, because the tax deductible portion of the payment is likely to be greatest in the first years and then diminish over time.

The benefits of consolidation mirror those of refinancing because the consolidation of multiple loans into one can allow the ability to have lower payments and an easier overall ability to pay over the life of the loan.

Because the mortgage has a lower interest rate than any of the loans that he or she paid off, odds are the homeowner will pay a lot less in interest over the life of the loan.

These rates are usually initially higher than variable interest rates because they do not change over the life of the loan.

Equity that is built over the term of the mortgage takes a very long time because the life of the loan is much longer than that of a short term mortgage.

This is because fixed rates are guaranteed to stay the same over the life of the loan.

There are other charges that you will see at the closing table called «recurring» charges because you'll pay for them over the life of the loan.

Because the rate may change, your payment may vary over the life of the loan as well.

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.

Over the life of the loan, he's going to save nearly $ 45,000 in interest compared to what Joe's paying, all because his credit score is just a few points higher.

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.

Because students would have borrowed money with the expectation that a portion of the interest would be deductible over the life of the loan, the interest deduction for student loans would be phased out in annual increments of $ 250 over a 10 - year period.

Because SoFi offers some of the lowest private student loan rates, this lender might help you to save money over the life of the loan.

Because borrowers with better credit scores and debt - to - income ratios tend to be lower risk, they are offered the lowest interest rates — currently about 4 % for a 30 - year fixed rate mortgage — which can save tens of thousands of dollars over the life of loan.

In the above example, it would not make sense to refinance your old personal loan because you would pay $ 546 more over the life of the loan by refinancing.

Unfortunately, here's the rub: because of your higher interest rate of 16.70 %, you'll end up paying an additional $ 1,213 over the life of the new loan, even as your monthly payment shrinks from $ 642 to $ 533.

Better yet, shortening the payment period can help with debt, because you will pay significantly less in interest over the life of the loan.

That's a good thing because it means you pay less over the life of the loan.

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.

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The reason this increase will not affect you is because you have a fixed interest rate, which means it is locked in for the life of your loan and will not change over time.