Sentences with phrase «time lump sum loan»

You can either apply for a revolving line of credit (home equity line of credit) or a one - time lump sum loan using your home equity as collateral.

Not exact matches

Term loans are a lump sum of cash you pay back, plus interest, over a fixed period of time.

Many enter into balloon car loans thinking that they'll see an increase in their income by the time the payment is due, often leaving themselves unable to pay down the lump sum.

An online term loan is lump - sum financing repaid over a fixed period of time (3 - 36 months for short - term and up to 10 years for long - term).

Loans can be prepaid at any time with a rebate of unearned fees, repaid in installments, or repaid in one lump sum.

If applicable, a Principal Reduction Modification can be executed within 12 months from the time a borrower applies a lump sum of $ 10,000 or more to the principal balance of their loan.

Many enter into balloon car loans thinking that they'll see an increase in their income by the time the payment is due, often leaving themselves unable to pay down the lump sum.

A home equity loan gives you a one - time lump sum in exchange for a note with a fixed interest rate that must be paid off over a set term.

A balloon auto loan or residual payment loan is a loan in which monthly payments are made for a certain amount of time, ending with a lump sum payment to the lender at the end of the loan term.

More importantly, refinancing this type of loan into a traditional car loan allows you to turn that large payment into smaller payments paid out over time, freeing up a lump sum of cash you would have otherwise paid out.

These types of loans are dispensed by a lender in one lump sum, and then paid back over time in what are usually monthly payments.

Access to funds — A home equity loan provides you the money in an upfront lump sum and you repay over a defined period of time.

The most common home equity loans are so - called closed end loans: the borrower receives a lump sum at the time of closing, with interest set at either a fixed or at an adjustable rate, depending on the agreement with the lender.

An HELOC can be taken out at any time without exceeding the credit limit but for a home equity loan, you have to take the initial lump sum and wait for a new contract to be drawn so you can access more money.

A typical personal loan involves receiving a lump sum of money from a bank, and repaying that loan with interest over time.

You may receive credit each time you receive a lump - sum payment through one of the DOD's student loan repayment programs.

Most borrowers elect to make a payment each time that they get paid, which is usually easier than paying the entire loan off with one lump sum, like with traditional payday advance loans.

Single Disbursement Lump Sum: If the borrower (s) is eligible for a $ 100,000 loan but only needs $ 30,000, the borrower (s) may choose to only receive the $ 30,000 in a one - time lump sum paymLump Sum: If the borrower (s) is eligible for a $ 100,000 loan but only needs $ 30,000, the borrower (s) may choose to only receive the $ 30,000 in a one - time lump sum paymlump sum payment.

The time you spend in the Peace Corp will count only if you 1) do not choose to get an economic hardship deferment and make scheduled payments during your service or 2) make a lump sum payment on your loan from the Peace Corps transition allowance no later than six months after you receive the allowance.

Term loans are monetary loans that are usually disbursed in one lump sum and repaid in regular payments over a set period of time.

Whereas traditional loans give you a lump sum payment that has to be paid off with interest over time, a HELOC lets you choose when and how much to borrow.

Flexible disbursement options — Loan proceeds can be collected as a lump sum (fixed - rate only), a line of credit to be drawn upon as needed2, a monthly payment for a set period of time or as long as you live in the home, or a combination of these options.

A fixed term reverse mortgage makes a lump sum disbursement of money once the loan closes, and has a loan interest rate that they are locked into at the time of closing.

A fixed term reverse mortgage makes a lump sum disbursement of money once the loan closes, and loan interest rates are locked into the rate at the time of closing.

A home equity loan is a closed loan, which means you receive a single lump sum that you pay back with regular payments over a predetermined period of time.

A HELOC is a line of credit that is available to use as you need it, whereas a home equity loan is one lump sum that you pay back over time.

Term life insurance covers you for a specific period of time — in this case, until your student loans are paid off — and gives your survivors a tax - free lump sum of money that they can use to pay off your debts.

An HELOC can be used at any time as there are no withdrawal restrictions but for a home equity loan, payments after the initial lump sum must be approved through a new contract.

With a year in business and growing revenue, a term loan can provide a lump sum you can repay over a set period of time.

A home equity loan is a one - time lump - sum loan.

Traditional fixed - term business loan comes in a lump sum that you have a set amount of time to pay off, usually in monthly repayments.

As opposed to credit cards, which allow a borrower to spend a little at time and gradually build up and pay down a balance, personal loans are typically loans where borrowers take out thousands of dollars and the funds are borrowed in one lump sum.

Fixed - rate reverse mortgages give borrowers a one - time, «lump - sum» payment at closing of all of their loan proceeds, after the payoff of any mortgages or liens on their property.

The homeowner can make lump - sum payments or pay the loan out in full at any time with no penalty.

The homeowner still has a single loan but with a completely new mortgage and a fresh rate and term, in addition to the lump sum of $ 100,000 which will be issued at the time of closing.

A personal loan offers a lump sum amount at one time and the interest is charged on the entire amount starting from day 1, irrespective of whether you use up that entire amount or not.

Loans may also be paid back at any time and do not require them to be paid in full in one lump sum, although doing so is permitted.

Unlike loan agreements, which can contain complex payment terms, promissory notes are more like paper trails that document that one person has lent another money and that the borrower agrees to repay the money within a certain amount of time, either in a lump sum or in installments.

When your business needs long - term financing or a one - time lump sum, a business loan may be best for you.

A home equity loan is a lump sum agreement that is good for a 1 time purchase.

If you take out a home equity loan, you'll receive a one - time lump sum of cash that you then pay back over a set amount of time, usually 10 or 15 years.

Building equity in a home is realized as a lump sum amount when the home is sold but before that time it can also be used to take out a loan.

While both products let you use your equity to your advantage, a home equity loan gives you a one - time lump sum of money.

Fixed - rate loans provide a single, lump - sum payment to the borrower, which is repaid over a set period of time at an agreed - upon interest rate.

An HELOC or home equity line of credit is accessible at any time when it is needed but a home equity loan is a single lump sum payment.

You can access an HELOC at any time but for a home equity loan, you must get a new contract approved each time you need more money after the initial lump sum.

Other common loans include a line of credit, which gives the borrower access to a certain amount of funds at any given time; a merchant cash advance, an advance based on future revenues of a business; and invoice factoring, in which invoices are sold for a lump sum of cash to improve cash flow and reduce debt.

A payday loan is a one - time, lump sum of cash.

Since it's a lump sum one - time equity draw, a home equity loan is a good source of money for major projects and one - time expenses.

I've been making responsible payments into my loan for years now, and I've been making lump sum payments into my loan each time I come across a significant windfall.