Forum Discussion
mileshuff
Aug 31, 2015Explorer
OutdoorPhotographer wrote:
If you are going to borrow, and I agree with posters above that it is best not, please at least get a short term loan. They may push a loan with 10+ year terms but you will be upside down forever and pay a substantial amount in interest even at a lower rate.
In most cases you can pay more per month than the minimum. The term only sets the minimum you must pay each month. IOW's, if I can get a 2% 15 year loan or a 2% 5 year loan, I'll take the 15 and pay what I choose to each month.
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