Where is the logic in the way that lenders choose interest rates? Why are fifteen-year home loans cheaper than thirty-year mortgages? To understand how banks and finance companies set prices you have to look at it from their perspective, the point of view of the people who are lending the money. They are in it to […]
Tag Archive | "amortization periods"
Amortization periods have a profound effect on your mortgage repayment figures. Here we discuss the difference between a short and long term mortgage. Once the down payment has been deducted from the price of your new home, the balance is amortized over a period years. Each monthly repayment includes the decreasing principal owed after the […]