How does an end loan work?
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Video answer: End-to-end loan lifecycle management on mobile
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End loans help construction loan borrowers pay off their entire original balance, upon the completion of a project… By using an end loan to pay off the construction loan, the borrower saves money, based upon the difference in interest rates.
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The loan is paid off at the end of the payment schedule. Some of each payment goes towards interest costs and some goes toward your loan balance. Over time, you pay less in interest and more toward your balance.
Typical Installment Loans. There are a few different types of installment loans out there, some of which you may have already used before. We’re going to break down some of the most common types. Auto Loans. An auto loan (or car loan) is basically what it sounds like: It’s a personal installment loan that is taken out to help you pay for a car.
Therefore, the loan will be paid in full after the last payment as long as no payments are missed. When you sign your loan agreement, you will be presented with the payment schedule based on the loan term you selected. However, we encourage you to pay off the loan as quickly as possible to save on interest.
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