When you have a loan, how much do you have to pay?

With a $1,000 loan, you will pay $50 a month for the life of the loan.With a 20-year loan, your monthly payment is $250, and with a 30-year, you pay $550.A 40-year interest-only loan is $2,600 a month.But that doesn’t include interest on the principal, which is what the federal government pays for federal loans.Interest […]

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What you need to know about SBA loans

SBA lenders are seeking borrowers with income above a certain level.The new SBA Loan Calculator allows you to compare loan offers from banks and credit unions, as well as the lender’s loan to income ratio.SBA loan calculators were originally developed to help consumers get an idea of whether they should borrow on a traditional or […]

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