Sentences with phrase «with higher monthly payments»

There are fixed - rate mortgages with shorter terms, but they come with higher monthly payments because you're paying back the same loan in fewer months.

Others choose a shorter - term loan with higher monthly payments so they can reduce overall interest payments and own their homes faster.

Therefore, if the budget allows it, it is still better to take a shorter payment terms with higher monthly payment.

Ultimately, this means you pay more over the life of your loan plus you'll be stuck with a higher monthly payment.

By putting down only 10 %, your monthly mortgage payment would be higher, and you would have to live with the higher monthly payment.

Alternatively, borrowers may choose to extend their repayment term if they are having trouble with high monthly payments.

It will likely take many years to fully pay it off, possibly with higher monthly payments.

You prefer shorter payoff time and a typically lower interest rate with higher monthly payments.

That higher rate also corresponds with a higher monthly payment, which can make it difficult to accelerate repayment or keep up with your other bills.

Federal loan consolidation can provide relief if you are struggling with high monthly payments by allowing you to extend the term of repayment to 20 or 30 years.

Keep in mind that because the premium paying period is shorter, you will have to make up for the difference with higher monthly payments.

Parents have a lot of credit cards with high monthly payments (minimums) required every month.

The rates can rise suddenly, and you're left with high monthly payments.

So, you decided on a short - term loan with higher monthly payments that you can not afford.

Alternatively, you can choose a shorter term with higher monthly payments, which means you'll pay less interest in the long run.

As to the requirements for approval, provided that you are up to date with the payments there will not be a problem with approval as you are already showing that you can repay debt with higher monthly payments.

Many homeowners with ARMs fear the day mortgage rates begin to rise because that means they would end up with a higher monthly payment when their loan resets.

If you refinance for a shorter term, you might end up with higher monthly payments in order to pay less in interest over the life of the loan.

The price of a new car these days can really put a strain on a person's finances, and if you are financing or leasing that car, you may be saddled with high monthly payments for years to come.

Shorter repayment periods come with higher monthly payments, though, so make sure you can afford them.

Others choose a shorter - term loan with higher monthly payments to reduce interest payments and pay off their mortgage faster.

* If you're stuck with high monthly payments on your credit card and an interest rate that you can't keep up with, a credit card balance transfer may help you save money.

Debt Consolidation: People are often burdened by multiple debts with high monthly payments, which do great harm to their credit.

They would pay thousands upfront, and end up with a higher monthly payment, too.

This is a good option for people who would otherwise struggle — or face default — with higher monthly payments.

With high monthly payments and interest rates, an increasing number of graduates are exploring their refinancing options as a way to take control of their debt and pay it down faster.

You'll still end up with a higher monthly payment, because you are repaying the loan in half the time.

The 10 - year repayment plan could be tougher to manage in the short term, with higher monthly payments, but could save you thousands of dollars in interest by getting you out of debt faster.

A 15 - year term does come with a higher monthly payment, so you may need to adjust your home - buying budget to get your mortgage payment down to 25 % or less of your monthly income.

On the contrary, 3 year plans set an aggressive track towards paying off a loan with higher monthly payments.

Picking a short - term loan can signify confidence in your ability repay the loan with higher monthly payments.

Purchasing a car, unfortunately for those accustomed to leasing, traditionally comes with a higher monthly payment.

Some people who make the mistake of not having the automobile insurance compared for the different cars they are considering purchasing often then end up with higher monthly payments than they can afford after the loan payments and insurance premium amounts are combined.

There are also fixed - rate mortgages with shorter terms, but those come with higher monthly payments (because you're paying back the same loan in fewer years).