How much is interest on a loan?
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lindon
Apprentice
Joined: 15 Jan 2006
Posts: 7
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 Posted: 03/05/08 - 06:48 Post subject: |
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| Hello everybody! My name is Edward. I and my wife would like to buy a house on the coast where we could spend our days in retirement. In order to achieve that, we need to get a mortgage loan. That’s why I would like to know how much is interest on a loan nowadays? Thank you very much for the posts. |
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roddie
Apprentice
Joined: 22 Feb 2007
Posts: 4
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| Posted: 04/04/08 - 01:49 Post subject: |
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| Hello Edward! Wow, a beach house! It sounds like a great thing to have for your retirement. Our financial market is very competitive nowadays. If you did some research prior to this, you may have noticed how many companies are there which offer so many services. One just doesn’t know which one to choose. But it is a good thing actually, because interest rates go down. I am not quite sure, but I think that interest on a loan is about 5 or 6%. As far as I remember, interest rate for a 30 years fixed loan is 5.9% and for 15 years fixed is 5.45%. Just have in mind that there are some other important features of every loan besides the interest rate. Well, I truly hope that you will manage to buy that beach house. All the best! |
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