Sentences with phrase «remaining life of the loan»

While it may not seem like much, depending on the amount of the original loan, it could save hundreds to thousands of dollars in interest on the remaining life of the loan.

The teaser rates applied for the initial fixed period of the loan, typically one or two years, and were at a significant discount, often as much as 5 or 6 percentage points below the rate that would apply for the remaining life of the loan.

While it may not seem like much, depending on the amount of the original loan, it could save hundreds to thousands of dollars in interest on the remaining life of the loan.

After that, the rate can change every five years for the remaining life of the loan.

The fully indexed rate of 3.625 % is in effect for the remaining 25 years and can change once every year for the remaining 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.

Had this bill passed, it could have meant significant savings to both private and federal borrowers, and would have set the interest rates for the remaining life of the loans.

After the initial 5 years, the Annual Percentage Rate and payment amount are variable and can increase or decrease once every year for the remaining life of the loan.

Once your initial period is over, you'll be responsible for interest and principal over the remaining life of the loan.

The second year the rate goes up to 9.5 percent, and for the third year through the remaining life of the loan, the rate is calculated at 10.5 percent.

For Example: A conventional Fannie Mae 3 year ARM is a 30 year mortgage where the interest rate is fixed for the first 3 years of the loan, and then adjusts periodically — either monthly, semi-annually, or annually for the remaining life of the loan.

Not that my advice would be early loan repayment, but I think if you do decide to go that route then which loan to pay off early really depends on the rate and remaining life of the loan, and not the overall size of the loan, if you're looking at reducing your monthly debt payments.

The monthly mortgage payment which, if maintained unchanged through the remaining life of the loan at the then - existing interest rate, will pay off the loan over the remaining life.

Because your loan balance is smaller, you'll pay less in interest over the remaining life of your loan.

After that adjustment period the rate will be fixed for the remaining life of the loan.

If a borrower instead opts for the lower rate with PMI, he can get out of the PMI obligation in a few years (when equity accumulates) and then enjoy a lower interest rate for the remaining life of the loan.