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Mortgage Professor about simple interest: 
How Does Simple Interest Work?
January 5, 2004 "What are the benefits/drawbacks of a simple interest loan versus a traditional mortgage? Which would you take if offered the choice?" I would select a traditional mortgage. If ... more...

The Cost of Getting Distracted
January 8, 2001 "We just refinanced our 1st mortgage for $138,393 at 8%, our 2nd for $37,987 at 12%, and one credit card for $7,438 at 10%, into a new simple interest 1st mortgage at 10.14%/10.52%APR. It is a biweekly that will be paid off in 19 yrs 8.4 months without making ... more...

simple interest related definitions

Adjustable Rate Mortgage, ARM
Adjustable Rate Mortgage (ARM) Also known as a variable rate mortgage. The interest rate on these mortgages changes periodically. Variable or adjustable loans are loans whose interest rate fluctuates over the period of the ... more...

Variable Rate Mortgage
Variable Rate Mortgage The variable rate mortgage, affectionately know as Adjusatuble rate mortgage or ARM is a mortgage with a rate that will adjust over time. You may be familiar with the term three year ARM, or five-year ARM. ... more...

More about simple interest

Get Free simple interest Quotes and Estimates

Get instant on-line mortgage rate quote and closing cost estimate. Only put your loan numbers. No contact info required. Compare offers from top mortgage lenders... more...

Debt Consolidation - Watch out for Payday Loans
Most any large city has a number of small shops offering payday loans. Theyre often found in strip centers; sometimes they double as pawn shops. They have a simple business they lend you money until your next paycheck. The system is pretty convenient; you write them a postdated check for the ... more...

Debt Consolidation Watch out for Payday Loans
Most any large city has a number of small shops offering payday loans. Theyre often found in strip centers; sometimes they double as pawn shops. They have a simple business they lend you money until your next paycheck. The system is pretty convenient; you write them a postdated check for the ... more...

The Quickest Way to Significantly Increase Your Net Worth
Your net worth equals what you own minus what you owe. It is commonly referred to as the difference between your total assets and your total liabilities.Heres a simple illustration:Home Value = $350,000 Mortgage balance = $150,000 Investments = 100,000 Credit cards = 20 ... more...

Little Known Secret: Eliminate your Mortgage in 23 years or less!
Wanna know a little secret? There is an ingenious method you can use, to pay off your 30 year fixed rate loan, in 23 years or less. Its straightforward, simple, and easy to understand. In this article, were going to explore this little known secret, and well provide several examples of how it works ... more...

Lower Your Credit Card Interest Rate Now!
With todays credit card companies, there are many opportunities to get your cards rate of 21% or more reduced. The higher the amount of interest your card charges will cost you more for a simple purchase and ultimately may take you years to pay off instead of months, should you make the minimum ... more...

Credit Card Dirty Tricks
There are many of us that have been badly stung by credit card companies that have charged exorbitant fees to use their credit cards. Several years ago an APR of 25% to 29% was common place which in simple terms means that if you borrow 1,000 your interest on that money would be 250 to 290 a year. ... more...

What is a Bridging Loan?
A bridging loan as the name implies is a loan used to bridge the financial gap between monies required for your new property completion prior to your existing property having been sold.A bridging loan is in simple terms a short-term mortgage that is secured against the property that you are selling ... more...

Debt Tips
Debt is great, in fact, I don't know what I'd do without it. Debt teaches you to manage your money. Debt builds credit. And if you play your cards right, debt will actually earn money for you. It's all simple. If your credit is bad right now, this may not work. But if you have average or ... more...

How To Get Total Credit Card Debt Elimination
Wouldnt it be nice to have all of your credit card debt magically eliminated? Unfortunately, if you dont have a magic wand or a Jeanie in a bottle, youll have to create the magic yourself. Here are some simple ways to totally eliminate your credit card debt.Stop ChargingThe first and surefire way ... more...

Cash Advance Credit Cards
Cash advance credit cards have been developed to help individuals who find themselves in need of quick loans from time to time, but don't want to pay the exorbitant interest rates and fees that credit cards charge for cash withdrawals. In simple terms, cash advance credit cards, are like ... more...

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