LOANS: HOW MUCH DO YOU KNOW?

Over the course of a loan, the monthly payment stays the same while the interest payment increases and the principle payment decreases.

The monthly payment is split into:

Amortization and loan Life/Term are NOT the same.

If I default but my loan is secured by my business, the bank can't take my home.

If I pay my loan off early, the banks will not charge me a penalty.

Interest rates for CNC Machines are typically __________ rates for real estate.

CNC Machines appreciate in value over time.

The people who need to borrow money the least get the worst terms and interest rates.

When deciding on a loan, 0% APR for 12 months is a good offer.

If I have a fixed interest rate, I won't have a balloon loan.