The Art Of Getting Low Rate Loans
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James Copper
Apr 26, 2013, 5:50:02 PM4/26/13
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Please consider this free-reprint article written by:
James Copper
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Article Title: The Art Of Getting Low Rate Loans
Author: James Copper
Word Count: 544
Article URL: http://www.isnare.com/?aid=152308&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=152308
Easy Publish Tool: http://www.isnare.com/html.php?aid=152308
*********************** ARTICLE START ***********************
Low rate loans are loans with low interest rates. Interest is the way the lender makes money off loaning money. Interest rates vary according to a variety of factors. Interest can be confusing and very costly. It is important for borrowers to understand the value of a low rate loan.
What constitutes a low interest rate is dependent upon a few things. The average interest rate and the borrowers credit are two main determining factors that lenders use to set an interest rate.
Interest rates are higher in bad economic conditions and lower in good economic conditions. Lenders, however, can add on to the average interest rate. They usually tack on extra percentages based upon the credit history of the borrower.
Interest rates are also affected by the market. When there are many borrowers looking for loans the lenders are going to be offering lower rates so they can get more business. However, if the market is slim, lenders are going to hike up their prices to make up for the loss of business.
Interest on a long term loan is going to cost more. That is because the interest rate is applied every year. When the loan begins the interest rate is calculated and added based upon the whole amount of the loan. The next year the balance of the loan has the interest rate calculated again and added to it again. This is how interest charges add up.
The borrower can help keep the interest low by negotiating a good rate to start with. If the borrower has good credit then it should not be hard to get a low rate. If the borrower has bad credit, though, getting a low rate can be difficult.
If a low rate can not be obtained a borrower still has options to keep the interest charges low. A borrower can put down a large down payment to reduce the overall loan amount, which will in turn reduce the interest paid.
A borrower can also get a shorter term. Although with a shorter term the monthly loan payments will be higher. If a borrower can afford it, though, it is a good option.
Overall the best low rate loans are going to be for smaller amounts over a short term and the borrower is going to have good credit. There are many things that can affect the interest rates a lender sets, from the average interest rate to how competitive the market is to the borrowers credit score.
It is important for the borrower to understand how they can have some control over the process. Getting control can be the only way to guarantee a low rate loan.
Low rate loans can be found, but it takes a little knowledge. It is very easy for a lender to take advantage of an uneducated borrower. Borrowers may not realize how interest works or that they have options to making the interest charges lower.
When a borrower goes into a loan negotiation backed with the knowledge about interest rates they can end up getting a good deal that will not cost them big in the end.
About The Author: James Copper works with http://www.just35.com
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=152308
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
James Copper
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=152308
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=152308
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: The Art Of Getting Low Rate Loans
Author: James Copper
Word Count: 544
Article URL: http://www.isnare.com/?aid=152308&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=152308
Easy Publish Tool: http://www.isnare.com/html.php?aid=152308
*********************** ARTICLE START ***********************
Low rate loans are loans with low interest rates. Interest is the way the lender makes money off loaning money. Interest rates vary according to a variety of factors. Interest can be confusing and very costly. It is important for borrowers to understand the value of a low rate loan.
What constitutes a low interest rate is dependent upon a few things. The average interest rate and the borrowers credit are two main determining factors that lenders use to set an interest rate.
Interest rates are higher in bad economic conditions and lower in good economic conditions. Lenders, however, can add on to the average interest rate. They usually tack on extra percentages based upon the credit history of the borrower.
Interest rates are also affected by the market. When there are many borrowers looking for loans the lenders are going to be offering lower rates so they can get more business. However, if the market is slim, lenders are going to hike up their prices to make up for the loss of business.
Interest on a long term loan is going to cost more. That is because the interest rate is applied every year. When the loan begins the interest rate is calculated and added based upon the whole amount of the loan. The next year the balance of the loan has the interest rate calculated again and added to it again. This is how interest charges add up.
The borrower can help keep the interest low by negotiating a good rate to start with. If the borrower has good credit then it should not be hard to get a low rate. If the borrower has bad credit, though, getting a low rate can be difficult.
If a low rate can not be obtained a borrower still has options to keep the interest charges low. A borrower can put down a large down payment to reduce the overall loan amount, which will in turn reduce the interest paid.
A borrower can also get a shorter term. Although with a shorter term the monthly loan payments will be higher. If a borrower can afford it, though, it is a good option.
Overall the best low rate loans are going to be for smaller amounts over a short term and the borrower is going to have good credit. There are many things that can affect the interest rates a lender sets, from the average interest rate to how competitive the market is to the borrowers credit score.
It is important for the borrower to understand how they can have some control over the process. Getting control can be the only way to guarantee a low rate loan.
Low rate loans can be found, but it takes a little knowledge. It is very easy for a lender to take advantage of an uneducated borrower. Borrowers may not realize how interest works or that they have options to making the interest charges lower.
When a borrower goes into a loan negotiation backed with the knowledge about interest rates they can end up getting a good deal that will not cost them big in the end.
About The Author: James Copper works with http://www.just35.com
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=152308
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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