Sentences with phrase «total interest over the life of the loan»
Plus, you might pay more total interest over the life of the loan if you extend your loan term.
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Their minimum monthly payments and interest rates are displayed along with total interest over the life of each loan.
However, loans with longer repayment terms typically have higher interest rates than loans with shorter terms and you will likely end up paying more in total interest over the life of the loan.
Borrower «A» (who used a 30 - year mortgage loan) ended up paying nearly three times as much in total interest over the life of the loan.
It is important to remember that, while selecting a longer repayment period will lower your monthly payment amount, it will result in you paying more total interest over the life of your loan.
Borrower «A» (who used a 30 - year mortgage loan) ended up paying nearly three times as much in total interest over the life of the loan.
True or false: A 15 - year mortgage typically requires higher monthly payments than a 30 - year mortgage but the total interest over the life of the loan will be less.
Because a reduced monthly payment under the Pay As You Earn plan generally extends your repayment period, you may pay more total interest over the life of the loan than you would under other repayment plans.
Doubling the length of the loan also more than doubles the total interest over the life of the loan.
Doubling the interest rate more than doubles the total interest over the life of the loan.
He's also paying about $ 90,000 less in total interest over the life of the loan.
Borrower «A» (who used a 30 - year mortgage loan) ended up paying nearly three times as much in total interest over the life of the loan.