Welcome, visitor! [ Login

Premium WordPress Themes - AppThemes

How Long Should We Take to Pay Loans and Accounts?

Loan Lenders- Loan advices November 6, 2016

How Long Should We Take to Pay Loans and Accounts?

We should not still be making payments on a purchase or a loan after we have ceased to benefit from it. There is no fixed rule to follow and no one can determine for another how long he should take to pay for a purchase. It is important to consider:

  • What monthly payments will fit into the family budget?
  • How long will the product or service purchased last?
  • How long will you remain interested in the product?
  • How long will your income remain steady or increase?
  • The shorter the term of payments the less finance charges.

Contract limits normally are longer as the size of the purchase or loan increases. Contracts for furniture can range from 12 to 24 months while auto contracts can range from 48 to 60 months.

Market Conditions That Affect Terms We Are Offered

The merchant or lender is limited by market conditions when he considers what terms he can extend safely and intelligently. In our “free economy” there are in the background governing factors that influence quite a bit the amount of funds available for consumer credit use. The Federal Reserve System sets rates at which bankers themselves can borrow funds.

The banks in turn then set the rates of interest at which merchants and the lenders of smaller amounts can get the funds they need. The banking system in this way makes it easier or more difficult, cheaper or more costly for businesses and consumers to borrow.

No Tags

49 total views, 1 today

  

  • Maximum Loan Limits for Loans Originated in Fiscal Year 2011-New York-NY

    by on December 30, 2016 - 0 Comments

    Fannie Mae and Freddie Mac Maximum Loan Limits for Loans Originated in Fiscal Year 2011 (10/1/2010-9/30/2011) These limits were determined under Public Law Number 111-242, which sets maximum loan limits equal to the higher of the maximum limits determined under the Economic Stimulus Act of 2008 and the Housing and Economic Recovery Act of 2008. […]

  • Mortgage loan Lenders -Minnesota-F

    by on December 20, 2016 - 0 Comments

    F AND M BANK-CANNON VALLEY FHA MORTGAGE DEPARTMENT 715 STAFFORD ROAD N DUNDAS, MN  55019 Phone: (507) 645-8825 FARMERS AND MERCHANTS STATE BA FHA MORTGAGE DEPARTMENT 126 101 N MARSHALL SPRINGFIELD, MN  56087 Phone: (507) 723-4234 FARMERS STATE BANK NEW LONDON FHA MORTGAGE DEPARTMENT 1690 SOUTH FIRST STREET WILLMAR, MN  56201 Phone: (320) 235-5900 FIRST […]

  • Maximum Loan Limits for Loans Originated in Fiscal Year 2011-New Mexico- NM

    by on July 11, 2017 - 0 Comments

    Fannie Mae and Freddie Mac Maximum Loan Limits for Loans Originated in Fiscal Year 2011 (10/1/2010-9/30/2011) These limits were determined under Public Law Number 111-242, which sets maximum loan limits equal to the higher of the maximum limits determined under the Economic Stimulus Act of 2008 and the Housing and Economic Recovery Act of 2008. […]

  • Maximum Loan Limits for Loans Originated in Fiscal Year 2011-Washington -WA

    by on July 31, 2017 - 0 Comments

    Fannie Mae and Freddie Mac Maximum Loan Limits for Loans Originated in Fiscal Year 2011 (10/1/2010-9/30/2011) These limits were determined under Public Law Number 111-242, which sets maximum loan limits equal to the higher of the maximum limits determined under the Economic Stimulus Act of 2008 and the Housing and Economic Recovery Act of 2008. […]

  • Mortgage loan Lenders -Minnesota- S

    by on March 4, 2017 - 0 Comments

    SAINT CLOUD NATIONAL BANK AND FHA MORTGAGE DEPARTMENT 300 EAST ST GERMAIN ST CLOUD, MN  56304 Phone: (612) 251-4400 SAINT PAUL POSTAL EMPLOYEES CR FHA MORTGAGE DEPARTMENT 2401 N MCKNIGHT ROAD NORTH SAINT PAUL, MN  55109 Phone: (612) 770-7000 SECURITY BANK AND TRUST CO P O BOX 218-735 11TH ST EAST GLENCOE, MN  55336 Phone: […]