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What is an advantage of a shorter-term loan?
less interest paid...
What is an advantage of a shorter-term (such as 15 years) loan?
less interest paid
What is a advantage of a shorter-term such as 15 years loan?
less interest paid
Why are the home mortgage loan rates higher on longer term mortgages than on shorter term mortgages?
Loan rates are higher on longer term mortgages because banks have to insure the cost of the loan for much longer than with short term mortgages. There are many advantages to shorter term mortgages. Not only do you have a lower interest rate, but you can potentially save thousands in interest since the loan period is much shorter.
What is the advantage of shorter term mortgages?
The higher monthly costs make the 15-year loan available mainly to affluent borrowers. This has helped keep default rates low, making it a good intermediate term asset for portfolio lenders and attractive to investors
What is an advantage of a shorter-term loan?
less interest paid...
What is an advantage of a shorter-term (such as 15 years) loan?
less interest paid
What is a advantage of a shorter-term such as 15 years loan?
less interest paid
Why are the home mortgage loan rates higher on longer term mortgages than on shorter term mortgages?
Loan rates are higher on longer term mortgages because banks have to insure the cost of the loan for much longer than with short term mortgages. There are many advantages to shorter term mortgages. Not only do you have a lower interest rate, but you can potentially save thousands in interest since the loan period is much shorter.
What does a loan term refer to?
A loan tern refers to the length of time a loan is valid, and how long the customer has to pay it back. The shorter term the loan is, typically the better the interest rate.
What is the advantage of shorter term mortgages?
The higher monthly costs make the 15-year loan available mainly to affluent borrowers. This has helped keep default rates low, making it a good intermediate term asset for portfolio lenders and attractive to investors
What is an advantage of a short term loan?
less risk for the lender (liquidity) -> less collateral and information required.
What are the advantages of applying for a short term loan?
A short term loan offers the advantage of being able to repay in a set time-frame, perhaps as a way to build up or repair your credit. Repaying a short term loan will establish your ability to repay and build self-discipline too.
Term Loans?
form_title=Term Loans form_header=Finance your business with a term loan from the bank. What type of term loan are you interested in?= [] Intermediate Term Loan [] Long Term Loan How much do you intend to borrow with your next term loan?=_ How long to do you hope to take to pay the term loan back in full?=_
Is it possible to increase the amortization of an existing mortgage?
No. You can apply additional money to your monthly payments and that will accelerate your payoff. If you are looking for a shorter contractual term you will need to refinance the loan
What is an advantage of taking out a loan?
The loan which is taking before certait period of date
How can you reduce your car loan?
If you mean how can you reduce your monthly payments, you can refinance at a better interest rate or refinance for a longer term. If you mean how to amortize your loan over a shorter period, pay an extra amount on top of your standard loan payment. Beware of early payment penalties if you pay off your loan early. Check with your lender to be sure there is no prepayment penalty.
