How does interest work on a loan?
Let’s learn how does interest work on a loan. The most accurate or helpful solution is served by Yahoo! Answers.
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I am a first time home buyer and have a quick question about the interest rate lock. (Chicago IL USA). 1) Lets say I lock a rate of 5% today(30 yr fixed) with a bank for about 60 days. Now if the rate drops below 5% within the 60 days , will I be getting the lower rate as well ? 2) I have put an offer on a short sale property and waiting from the sellers lender to hear about the offer. Now lets say I lock for 60 days for 5% and if I will not hear about my offer within this 60 days, will I be able...
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Hello I am dan peterman by name, the M D of dan loans Venture , i am a Reputable, Legitimate & an...
JohnPau2... at Yahoo! Answers Mark as irrelevant Undo
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Buying a forty thousand dollar truck how much will you pay with ten thousand How much money do i need...
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I am a first time home buyer and have a quick question about the interest rate lock. (Chicago IL USA). 1) Lets say I lock a rate of 5% today(30 yr fixed) with a bank for about 60 days. Now if the rate drops below 5% within the 60 days , will I be getting...
Answer:
You will have to talk to your lender. The idea behind locking your rate is that you will keep a low...
JohnPau2... at Yahoo! Answers Mark as irrelevant Undo
Say I take out a $10,000 loan at 15% interest. Does that mean I pay 15% of $10,000 each year until the loan is paid off? Or would I pay 15% on the $10,000 the first year, then pay 15% of the remaining balance the next year (say 15% of $8000) and so on...
Answer:
15% a year. So on 10 grand, the interest will be about $1,500 a year. Don't forget you can pay off loans...
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Hi, How does interest on your student loan work? Currently I owe 31k total and I have 6% interest rate. I'm graduating soon and I plan to pay some now before I graduate. However, I'm confused....Does that mean that even if I pay my $50 monthly minimum...
Answer:
If you have subsidized loans then the interest does not start until the loan goes into payback. If you...
S0methin... at Yahoo! Answers Mark as irrelevant Undo
I will be taking out a subsidized loan for the first time, and had a question about the interest. If I take out $2,000 at 5% interest and it is deferred until after graduation, is the interest applied right away or does it start accumulating after graduation...
Answer:
It's not easy to find the best one because each lender has different rules. Maybe you can try to go...
biggishh... at Yahoo! Answers Mark as irrelevant Undo
ok so i'm really confused about the federal stafford loan... say the first year I borrow $1000....the interest would be $68 second year i borrow another $1000...then i owe $2068....and the interest would be $140 second year. third year, borrow another...
Answer:
A Stafford loan works like most other "consumer" loans. You have a monthly payment obligation...
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Let's say the unsubsidized loan I get is at 7%, does this mean that every month 7% of my principal gets charged on top of it (which of course, would be a HUGE total I would have to pay back)? Also, if I'm approved for "Prime rate +4%," what...
Answer:
The 7% is an APR, or annual percentage rate. Divide it by 12 to get the monthly rate - 0.5833%. This...
Bad Dude at Yahoo! Answers Mark as irrelevant Undo
How much would I have to put down and how much would the interest typically be?
Charisse at Yahoo! Answers Mark as irrelevant Undo
I know APR loans are a bad idea, but how would an interest-only loan work? Would it still be a 30 year note, or do they extend the loan? Would I be able to get a fixed rate with an ...show more
Answer:
The other answers are mostly correct, however no interest only loan product allows for interest only...
EDLI3UNW7SARDKGN27BYY2JLUU at Yahoo! Answers Mark as irrelevant Undo
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