Personal Loan Rates, What to expect
Return to Board  •  Menu  •  Bottom  Page 2 of 2
re: Personal Loan Rates, What to expect
Posted by TheWiz on 11/14 at 2:10 pm to yellowfin
So they came back with a 4.25% balloon for 24 months, and converts to a fixed term for 5 years after that. I told them that would absolutely kill me. I asked them to see about working something more along the lines of a 5/10 or 5/15 balloon, but it doesn't seem likely.

Reply  •  Back to Top
Posted by TheWiz on 11/15 at 4:22 pm to TheWiz
So the lender came back again. We're definitely getting a good ole boy deal. Offered a 4.25% 24 month interest only, and instead of going into term they're going to re-issue the remainder for another 24 months interest only. Then they'll issue one more 12 month interest only note, which will then balloon to a 5yr term at the end of that. (Rate then TBD). The interest only will be low enough that we won't hit our monthly budget, and we'll still be able to apply several $100 towards principle for the next five years. Every little bit counts, in that aspect, and we should be able to chip away about $24,000 worth of principle over those five years.

Reply  •  Back to Top
Posted by yellowfin on 11/15 at 4:28 pm to TheWiz
(no message)

This post was edited on 11/15 at 7:49 pm

Reply  •  Back to Top
Posted by TheWiz on 11/15 at 5:02 pm to yellowfin
Haha. It's going to save me exponentially, but I'm dreading that $4800/month note come 5 years from now, but it will only be for five years.

Reply  •  Back to Top
Posted by lnomm34 on 11/15 at 8:08 pm to TheWiz

$4800/month note

OUCH! That hurts me just thinking about it.

But, I'm glad you got it worked out.

Reply  •  Back to Top  •  Refresh
Return to Board
Jump to Page   

           Page 2 of 2           


 Message Boards
 Tiger Rant
 Recruiting Board
 SEC Rant
 Saints Talk
 Pelicans Talk
 More Sports Board
 Soccer Board
 O-T Lounge
 Tech Board
 Outdoor Board
 Movie/TV Board
 Music Board
 Political Talk
 Money Talk
 Fark Board
 Gaming Board
 Fantasy Sports
 Food and Drink Board
 Ticket Exchange
 Help Board

 More Sports
 Sports Lite

 Other Options
 >> Search Links
 SEC Rant
 SEC Recruiting
 SEC Tickets
 Off-Topic Board Dining Guide
 New Orleans
 Baton Rouge

 Site Features
 Home Page
 Recruiting Tracker
 LSU Football Schedule
 Pick'em Home Page
Back to top
Sign In 
View: new mobile version
Copyright ©2015