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In most cases -Yes providing that there are no pre-payment penalties You can usually save some money on interest by doing this
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∙ 16y ago
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What is the pay-off on your loan?
It's the amount you need to pay to close your loan, usually before the term of the loan is complete.
Is it best to retire a loan toward the end of its term or much before it?
If you mean "pay off" it is better to do it before the lien is up. You pay less interest.
Is there a way to sell a motorcycle when you are upside down in a loan with it and not owe the balance?
if the loan is through the bank then have the person who is buying pay off the rest of the loan.
Should you pay off a default loan before or after you apply for a Mortgage?
You should pay off your default loan before because you may not qualify for a mortgage loan because you already owe money.
If you am low on cash is a payday loan a good idea?
A payday loan is a short-term loan with high-interest rates, and it is advised that you look for any other way of scraping together cash before resorting to these types of loans. If you do need to get a payday loan, be sure to pay it off as soon as possible.
In order to pay off a personal loan early can i just pay off the remaining principle loan or do i have to pay the interest too?
Depends on the terms of the loan. Most will let you pay the principal off early, some will not. Read the loan agreement. Look for the term "prepayment".
What are Home Depot 401k loan guidelines?
upon paying off an existing loan how long before you may take out new loan
Can you sell a vehicle if the cosigner refuses to sign off on the loan?
The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.
What is the normal loan term (length of the loan) when you finance a commercial truck for around $40,000.?
In general, the loan term for trucks has to be paid off within 5 years. However, financing companies may adjust it based on your requirements.
What is the difference between a Term Loan and demand loan?
Demand Loan Loan with no specific maturity date, but payable at any time. Only interest is paid until the principal is paid off, or until the lender demands repayment of principal. The borrower may, however, pay off the loan early, without incurring a prepayment penalty. If the funds are advanced to a broker, it is referred to as a call loan. Term Loan A loan from a bank for a specific amount that has a specified repayment schedule and a floating interest rate. Term loans almost always mature between one and 10 years.
Can you take money out and then switch from whole life insurance to term life insurance?
Only whole life insurance, not term, accumulates cash value from which a loan may be taken While the loan does not have to be repaid, if it is not, the loan plus accrued interest will be deducted from the death benefit. If you are changing from whole life to term within the same company, it may permit you to pay a higher premium for the term in order to pay off the policy loan on the whole life, but this would be unusual. It would make for a far cleaner transaction to pay off the loan and switch to term coverage.
Balloon Loan Calculator?
Balloon Loan Calculator A balloon loan can be an excellent option for many borrowers. A balloon loan is usually rather short, with a term of three to five years, but the payment is based on a term of up to 15 years. There is, however, a risk to consider. At the end of your loan term, you will need to pay off your outstanding balance. This usually means you must refinance your loan or convert the balloon loan to a traditional loan at the current interest rates.
