Sentences with phrase «smaller than the loan amount»

If your refund is smaller than your loan amount, you'll be responsible for paying the difference.

If your refund is smaller than your loan amount, you'll be responsible for paying the difference.

Not exact matches

He says the Lendio survey is somewhat disingenuous, particularly because total payback amounts tend to favor small business lenders who push loans of less than a year.

We know that more than 90 percent of small business owners still believe that banks are a first stop for business financing, despite more than a 30 - year history of banks decreasing the amount of their loans going to small businesses.

Alternative lenders are also a better choice if you need a smaller loan amount (i.e., $ 50,000 to $ 200,000), but need more than a microloan.

Payday loans also involve smaller amounts than car loans and mortgages, and they usually carry much higher interest rates.

But it is better to have a higher rate on a smaller amount of money than on the entire principle of your loan

The amount you can finance is typically smaller than with a term loan, however, and you need good credit to qualify.

While interest rates are higher than SoFi and Parent PLUS loans, you can borrow smaller amounts.

Note that if your loan amount is smaller, you may pay less if the lender wraps all charges into an origination fee (usually, but not always, 1 percent of the loan amount) than you would if you paid separate fees of several hundred dollars each.

Also, going to court over such a small amount of money might cost more in administration and fees than the value of the loan.

An unsecured loan is one that is not tied to any assets, these tend to be short term and for smaller amounts than secured loans.

Since most payday loans are for less than $ 1,000, the borrower in most counties would file the action in small - claims court, and include any filing fees or other costs with the amount demanded from the defendant.

Home equity loans are appealing to many people because they can easily qualify for it as long as they own a home or they intend to borrow a smaller amount than the equity they have on their home.

If they get approved, it will most likely be for smaller loan amounts and higher interest rates than a person with an established credit history.

Payday loans also involve smaller amounts than car loans and mortgages, and they usually carry much higher interest rates.

These loans tend to be for smaller amounts and shorter terms than other types of loan, so the larger origination fees make up for the lower interest that lenders receive throughout the life of the loan.

For that reason, you may want to consider taking out two or more loans for smaller amounts of money rather than one large loan.

Because of the small amount involved in payday loans, you will find out that it is easier to secure than personal loans.

The banks want the money back as soon as possible, and that's why the amount given is usually smaller than a secured loan.

The State of Wisconsin Department of Revenue issued a statement to address this issue: «If the refund is smaller than anticipated due to deductions for items like unpaid child support or traffic tickets, the full amount of the loan must still be repaid.»

By letting qualified borrowers into the program — borrowers with smaller loan amounts and lower monthly payments than they now face — we should be able to reduce foreclosure levels and thus the inventory of unsold homes which is holding down home prices.

The amount you can finance is typically smaller than with a term loan, however, and you need good credit to qualify.

Similarly if you only borrow small amounts for a short time you can have a worse credit history than those who have taken out loans of large sums for longer.

Note that if your loan amount is smaller, you may pay less if the lender wraps all charges into an origination fee (usually, but not always, 1 percent of the loan amount) than you would if you paid separate fees of several hundred dollars each.

That could be tough to pay, but for many, it's easier to pay this smaller amount than the original student loan balance.

Typically, borrowers will receive a smaller maximum loan amount through registration loans than title loans.

Rates may be higher for loans to purchase a vehicle from a private party, smaller loan amounts, longer terms, vehicles older than 6 model years and a lower credit score.

Think about the loan threshold carefully — you may get a better deal by borrowing slightly more than you need on a better interest rate, rather than settling for a smaller loan amount on a higher interest rate.

Patrick Cunningham, vice president of Home Savings and Trust Mortgage in Fairfax, Virginia, says a «no - cost refinance» can provide financial benefits even if the mortgage rate difference is smaller than it would be in a traditional refinance since you are financing the closing costs and fees into the rate and / or loan amount.

«With a home equity loan, rather than creating a new first mortgage, the customer typically takes out a second mortgage for a much smaller amount than the first,» he says.

this «consolidation» also requires an upfront payment that varies depending on how much your loan is and how much they say you «qualify» for with my small (relatively) loan of less than 6K that amounted to almost $ 400 upfront.

It's much easier to get a $ 500 cash advance than to get a loan for thousands of dollars from a bank, due to the smaller amount of the loan.

A microloan is simply a loan for a relatively small amount of money, less than $ 100,000.

If you only want to borrow a small amount and you can meet the repayments out of your usual income, an unsecured loan may be cheaper than an equity release scheme.

While a payday loan provides you with a smaller amount of money than other long - term loans, it has its advantages.

If your loan only involved a small portion of your cash value, the remaining amount might even compound more rapidly than the interest payment on the loan, allowing your cash value to continue to grow even after interest payments are accounted for.

If you do pay a small amount to the principal each month, you will pay the balance down faster than a standard fixed rate loan.

Payday loans are also short - term loans like car title loans, although the maximum amount (something in the $ 300 range) is a lot smaller than what you can get with a car title loan.

If you want to borrow a small amount (less than $ 5,000), you may have difficulty getting a loan from a bank or other mainstream credit provider.

Paying off a single loan in large amounts every month is often easier for people than paying off a number of smaller debts that tend to slip through the cracks.

Instead of borrowing a large amount of money, more than you need, and paying interest for months while you try to repay the loan, these loans are small and reasonable.

If you have a smaller loan amount, it might be a smarter financial move to pay down your loan in normal installments rather than take the prepayment penalty.

For example, a real customer from Texas we'll call Kelly, who joined the LendUp community in early 2015, exhibited borrowing habits similar to what the CFSI calls a «misaligned cashflow borrower» (described by the CFSI as those who «tend to access small dollar credit amounts frequently to pay bills when income and expenses are mistimed... 42 % take out 6 or more loans per year, and 16 % take out more than 12 loans per year»).

Taking out a loan that's too small can leave you with remaining financial needs, but if you take out a loan that's too large, you'll be stuck paying interest on a larger amount than necessary.

On home loans, most people look at the deductible amount of their interest, but they neglect to look at the fact that they can deduct a good chunk of that anyway via the standard deduction — their actual extra deduction due to their house is often much smaller than they might think.

If we make a smaller payment than the billed amount will the loan go into default / collection?

I note that the loan notes are for a very small amount and still not at a great rate (though much better than the directors» loans!).

With planned I mean, we do not need the loan for now, but we can afford to pay a smaller interest than paying a higher interest on a huge amount of the loan for the house later.

As you see, there are some downfalls to IBR... but... having to pay a smaller amount for longer, may be better for people than having to get a 2nd or 3rd job just to attempt to pay ridiculously high monthly payments... and potentially defaulting on your loans... AND hurting your credit... AND not being able to get out of your parent's house or buy a car....