installment loan

What Is An Installment Loan And What Are Its Drawbacks?

An “installment loan” is a type of loan that covers both personal and business needs. It’s any loan paid back with regular payments. The payment amount depends on the loan size, interest rate, and loan term. Borrowers also pay extra fees like application and loan origination fees, and late fees. Installment loans include auto, mortgage,…

Pros and Cons of Refinancing

How Does The Process Of Refinancing A Loan Work And When Should It Be Considered?

Refinancing A Loan Work: Refinancing a loan means getting a new loan to replace your old one. People do this to get better terms. You might want to refinance to get a lower interest rate, reduce your monthly payments, or change how long you have to pay the loan back. You could also refinance to…