Sentences with phrase «standard monthly payment»
"Standard monthly payment" refers to the fixed amount of money that needs to be paid every month for a particular service or product, typically as part of a predetermined agreement or contract. Full definition
Borrowers start with a reduced monthly payment, which gradually increases after year two and four, settling into a higher standard monthly payment in year six for the duration of the loan.
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However, borrowers who prefer standard monthly payments will still have that option when selecting a loan term.
Like the income based plan, you'll have lower than standard monthly payments.
We paid the standard monthly payment until we got to the point when we hit the income ceiling for the interest deduction.
However, smaller banks offer small closed - end loans — those which have an expiration date and a standard monthly payment.
A mortgage that requires payments to reduce the debt every two weeks (instead of the standard monthly payment schedule).
Biweekly Payment Mortgage A plan to reduce the debt every two weeks (instead of the standard monthly payment schedule).
Consequently, we pay the standard monthly payment to Navient.
Make more frequent repayments - pay loans back weekly or fortnightly at a slightly higher rate (e.g. 5 - 10 % more) rather than just making the standard monthly payment.
In a Consumer Proposal, your debts can be taken care of through a standard monthly payment that is affordable based on your income and expenses.
A plan to reduce the debt every two weeks (instead of the standard monthly payment schedule).
For the purposes of underwriting the loan, your obligation under the income - driven repayment plan counts (not your standard monthly payment).
The reality is that not all borrowers attain a salary that enables them to make the standard monthly payment on their student loans.
If you were to make two payments every month, each for half of the amount of your standard monthly payment, you'd still make only the equivalent of 12 payments every year.
Forbearance Instead of IDR Others said that when telling their servicer that their standard monthly payment is unaffordable, they're directed to options like forbearance or extended payment, which can be more expensive over the long - term than an IDR plan.
Biweekly Payment Mortgage A plan to reduce the debt every two weeks (instead of the standard monthly payment schedule).
Biweekly Payment Mortgage A mortgage requiring payments every two weeks instead of the standard monthly payment.
Like a regular mortgage, EEMs are paid through a standard monthly payment to the lender.