Sentences with phrase «payment over a fixed term»

That is, an amortized loan requires a fixed payment over a fixed term, making it easy for borrowers to decide whether they can afford to take on new debt.

Not exact matches

Federal student loans are put on the Standard Repayment Plan, which offers fixed payments over a 10 - year term.

Extends loan terms with either standard fixed payments or graduated payments that increase over time.

Then you'll get fixed payments over the term of the loan equal to the interest rate offered.

When you take out an installment loan, the terms of your loan will typically require a fixed monthly payment over a predetermined period of time.

You must steadily reduce obligations over time using the fixed monthly payments in order to improve your rating long - term.

They get home loans with great interest rates, low fees and predictable, fixed monthly payments, and they make a budget ahead of time and think about their long - term plans so they don't get in over their heads.

Fixed loan rate of up to 4.99 % APR equals payments of $ 7.91 for each $ 1,000 borrowed over an 180 - month term.

If you don't choose an alternate plan, the Standard Repayment Plan for federal loans will charge fixed payments over a 10 year loan term.

Equipment loans provide for periodic payments that include interest and principal over a fixed term.

By modifying the terms of your mortgage loan to achieve a low, fixed rate, you can lower the monthly payments that you have to pay, and by modifying the terms of the original mortgage, you can stretch those payments out over a period of up to forty years in some cases.

Home equity loan payments are typically fixed over the repayment period, while a home equity line of credit can offer interest - only payment terms or outstanding balances can be repaid using a variety of repayment strategies.

The next most popular term for a fixed mortgage is the 15 - year fixed loan, which amortizes over fifteen years, bumping up monthly mortgage payments significantly, but reducing the amount of interest paid throughout the duration of the loan considerably.

Payments are fixed and because you make a higher monthly student loan payment compared to other student loan repayment plans, not only do you pay your student loans quickly, but also you pay less over the long term.

While payday loans are designed to be paid off in full on your next payday, an installment loan involves regular fixed payments spread out over the term of the loan — typically 6 to 12 months.

Personal loan rates are generally lower than typical credit card rates, and fixed payments over a set term can make it easier to manage your borrowing.

This is separate from the term of the loan (the period over which you fix the payments).

Amortizing a loan means calculating a fixed monthly payment that will cover interest and repay the principal (the original amount you borrowed) over the course of your loan term.

Short - term fixed loans, such as 15 - year loans, typically have lower interest rates than 30 - year loans, but higher payments, as the amount is spread out over fewer years.

If your interest rate is fixed (this is the norm), you'll make equal monthly payments over the loan's term, until it's paid off.

(If you're unfamiliar with the term «amortization», it simply means that your loan payments are spread out equally over a fixed period of time.

The following formula is used to calculate the fixed monthly payment (P) required to fully amortize a loan of L dollars over a term of n months at a monthly interest rate of c. [If the quoted rate is 6 %, for example, c is.06 / 12 or.005].

Refinancing either to lower the monthly payment or change from a variable - rate to a fixed - rate loan could result in an increase in the total number of monthly payments and interest charges paid over the full term of the new loan.

This simple loan calculator allows you to enter the loan amount, interest rate, and loan term, and shows you the estimated monthly payment and total interest to be paid over the length of the loan (fixed - rate or adjustable).

Policy premium payments are typically fixed, and, unlike term, whole life has a cash value, which functions as a savings component and may accumulate tax - deferred over time.

Staggered payment, whereby, 20 % of «Sum Assured on Death» is received at the time of claim settlement, with the balance being received as an Annual income, expressed as a fixed percentage of the Sum Assured on Death, on each death anniversary of the life insured over the chosen payout term.

Level Premium — A type of Term Life insurance where the premium remains fixed over the length of the term Paid Up — A policy requiring no further premium payments due to prepayment or earniTerm Life insurance where the premium remains fixed over the length of the term Paid Up — A policy requiring no further premium payments due to prepayment or earniterm Paid Up — A policy requiring no further premium payments due to prepayment or earnings.

With a fixed - rate mortgage, you have the comfort of knowing that your interest rate and monthly payments will stay the same over the long term, even if you keep the loan for the full 30 years.

Refinancing either to lower the monthly payment or change from a variable - rate to a fixed - rate loan could result in an increase in the total number of monthly payments and interest charges paid over the full term of the new loan.

All of our fixed rate terms come with the peace of mind of knowing that the principal and interest payments are guaranteed not to change over the length of the term selected.

Seller financing provides for the purchase price of the property to be paid with a low down payment (generally 10 to 30 per cent), the balance amortized over a long term (say 20 years) and a low interest rate (preferably fixed).

Lease payments typically are fixed to provide for amortization of the purchase price over the term of the lease plus a specified return rate on the buyer's investment.

Payments and interest do not change over the term of the loan in a fixed rate mortgage.