Sentences with phrase «pay over the entire life of the loan»
Finance Charge Your finance charge is the total of all the interest you would pay over the entire life of the loan, assuming you kept the loan to maturity, as well as all prepaid finance charges.
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With a fixed - rate mortgage, you pay the same interest rate over the entire life of the loan.
However, it's important to remember that most people do not keep the mortgage for the entire loan term and the added costs are usually paid upfront — not over the life of the loan.
If you have a fixed rate mortgage, your monthly payment for your principle and interest will stay the same over the life of the loan until your entire loan balance is paid off.
Over the life of a standard mortgage loan, the entire original amount borrowed is generally scheduled to be fully paid off, or amortized.