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What I just read it was 10 and 7/8% and when your talking paying points is 2, and anything more they are ripping you off. But I am not a lender just a very avid googler. hope that helps. :))
The highest rate that they can get away with. There are legal limits, and if they charge too much, no one will do business with them.
They can charge a commitment fee or a lock fee, most certainly. Not everyone does it but it depends on the lender, it is not uncommon though.
Usury laws provide that interest rates charged on any loan may not exceed 25% As high as the lender wishes it to be.
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what is the highest interest rate a car dealer can charge on an auto loan in sc?
What I just read it was 10 and 7/8% and when your talking paying points is 2, and anything more they are ripping you off. But I am not a lender just a very avid googler. hope that helps. :))
The highest rate that they can get away with. There are legal limits, and if they charge too much, no one will do business with them.
They can charge a commitment fee or a lock fee, most certainly. Not everyone does it but it depends on the lender, it is not uncommon though.
Usury laws provide that interest rates charged on any loan may not exceed 25% As high as the lender wishes it to be.
A payday lender is one that will lend you a relatively small amount of cash, and in turn, charge a high interest rate. They will typically withdraw the money on a set schedule, on the day you get paid.
It will depend on the lender and the risk of default.
It is not at all important if you are a lender!
The rate will depend on who the lender is and their assessment of the credit risk of the borrower.
The interest rate will depend on a number of factors. These include who the lender is and also on their perception of your credit risk.
The rate varies from lender to lender. According to Bigger Pockets, The rate will range from 10% interest only to 18% interest only annual interest rate payable monthly in most cases. Some Lenders will defer interest payments to payoff, benefiting investors that do not want payments during rehab.