Sentences with phrase «over the term of the loan equal»
Then you'll get fixed payments over the term of the loan equal to the interest rate offered.
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All other things being equal, a longer loan term usually means you'll pay more in total interest over the life of your loan.
Fixed loan rate of up to 4.99 % APR equals payments of $ 7.91 for each $ 1,000 borrowed over an 180 - month term.
Next, you make 12 equal payments over the course of your term to repay the credit builder loan.
On the other hand, if you've just purchased a home with your spouse, you might consider a decreasing term policy (since your mortgage balance decreases over time as you pay it off) with a death benefit equal to the size of your outstanding loan.
If you don't pay off the full amount of the loan by the end of the term, or if you can't afford to make equal payments over the life of the loan, the final payment must be made as a lump sum.
All other things being equal, a longer loan term usually means you'll pay more in total interest over the life of your loan.
Over the course of the loan term, you'll make 12 equal payments to pay off the loan, which are reported to all three credit bureaus.
On the other hand, if you've just purchased a home with your spouse, you might consider a decreasing term policy (since your mortgage balance decreases over time as you pay it off) with a death benefit equal to the size of your outstanding loan.