Do you know of any fixed interest private student loans?
Q. My husband is in college and we are looking for a private student loan to help pay for some of our living expenses while he is in school. We are looking for a private student loan with fixed interest, but I can't seem to find anything. The only loan that we are remotely interested in is a private loan by Chase bank which is a little more lenient on how the money can be spent, but it has a variable interest rate. Do you know of any similar loans with a fixed interest rate?
Asked by alliesmom - Mon Feb 16 12:23:29 2009 - - 3 Answers - 0 Comments

A. Private loans are the sub-prime loans of the student aid world. Avoid them like the plague. You won't find one with a fixed interest rate. Only federal loans have fixed rates. I would suggest your husband get a job or increase his hours to pay for his living expenses while he is in school. He can work weekends, or nights, or lots of other places. He's not at school 24/7. Campus work is an excellent way to have extra spending money. Either that our you could get a second part time job. Either way, it would be cheaper and a better option than a substandard, private student loan that YOU would have to pay back regardless of what happens to him...(should he die or become disabled, the cosigner ...i'm assuming it would be you) still… [cont.]
Answered by Suddenly Human - Mon Feb 16 16:02:40 2009

What's the current 30 year fixed interest rate if I have 20% down & excellent credit?
Q. I live in Los angeles county California. If I were to buy an average sized home this week in Los angeles area, what's the lowest interest rate I can have in percentage? Can I get 5.5%, 30 yr fixed similar to what one of my friend got couple of years ago? Also is there a formula for finding out my monthly payment using my calculator? Thanks!
Asked by Nelson - Mon May 7 16:43:03 2007 - - 5 Answers - 0 Comments

A. Don't give Marty, the Premier Loan Shark any information. he is running a scam. Yahoo keeps booting him, but he just signed up again. It looks like other scammers have posted as well. It depends on what you are calling excellent. If you are 780-800 you can get a better loan then your friend. Talk to a real estate person local to you, they will help you figure out what you can afford. There is more to it then just the mortgage. they will include your taxes, insurance and other required fees.
Answered by Janet P - Mon May 7 17:15:03 2007

Do you think it's time to change my home loan interest rate from variable to fixed?
Q. With the Commonwealth Bank increasing interest rates on both their fixed and variable products, do you think people should now be thinking about changing over to a fixed interest rate?
Asked by Lou - Sun Jun 14 19:30:09 2009 - - 21 Answers - 0 Comments

A. Why take a gamble like that? No one - I repeat - no one knows what interest rates will do in the future. Using the CBA as an example, the variable rate now is 5.74%. Their 5 year fixed rate is 7.34%, so if you did fix you'd be facing an extra 1.6% in interest payments. So, why not simply set aside that amount of money into another account, on which you can earn some interest yourself. Your day to day budget is affected in the same way - you are doing without the amount that is 7.34% per year of the principal on your loan. If the variable rate does go up, you will then reduce how much you're putting aside and pay the higher interest rate. Your day to day budget is the same. But if interest rates don't go up, YOU get to keep that money… [cont.]
Answered by Alcatraz - Sun Jun 14 22:52:46 2009

Fixed and Floating Interest?
Q. Can anyone help in explaining the diferrence between the floating interest and fixed interest as i am planning to get a home loan, please
Asked by solomon.joseph - Mon Oct 2 08:40:02 2006 - - 8 Answers - 0 Comments

A. If you get a 30 year fixed at, say, 5%, it means that for the life of your mortgage, you'll pay only 5%. You're locked into that rate -- it's "Fixed." Okay? Variable rates give you a fixed rate for anly a short time, and then the rates fluctuate with whatever rate the current market is at. This can mean that in the future, you may be paying 10%, 11% -- or whatever the rate is at. The rate is no longer fixed, it is variable. A lot of people get sucked into these, and regret it. The difference in only a few points, can mean several hundred dollars in extra finance charges every month. This is the primary reason so many people loose their homes. Interest rates are currently going down. Now is a good time to lock yourself into a nice low… [cont.]
Answered by Jack - Mon Oct 2 08:46:58 2006

Do you pay your personnel loan using a declining balance method or fixed monthly interest rate method?
Q. An example of fixed monthly is that if you take a $1000 loan over two years at 6% interest, the bank tells you that your annual interest is $600, so you pay $50 every month plus the principal payment which is 416.6 (1000/24). this is of course is more costly than the declining balance. Can i sue my bank over this?
Asked by LuvFinance - Fri Apr 18 10:36:00 2008 - - 4 Answers - 0 Comments

A. Nope, banks set the way they want you to pay your loans. If you don't like it then you don't have to sign the papers and agree to the conditions of the loan. You are free to refinance your loan by getting one somewhere else to pay off your existing loan.
Answered by sporregar - Fri Apr 18 10:45:27 2008

Fixed Interest Rate Loan and Increase in inflation?
Q. Suppose that Brian takes out a private loan of $30,000 from a bank to help pay for a new sports car. The inflation rate has been constant at 3% for the past decade, so the bank offers Brian a five-year loan at a fixed annual nominal interest rate of 10%. That is, the nominal interest rate is set at 10% per year for five years no matter what the level of inflation rate is. Suppose that right after Brian and the bank agree on the loan there is an oil shock, and the inflation rate increases to 8% for five years. Who benefits from this unexpected rise in the inflation rate? Who benefits? 1. The Bank 2. Neither 3. Brian Thanks for your help
Asked by ???? - Wed Sep 26 17:03:14 2007 - - 1 Answers - 1 Comments

A. Brian would benefit from the inflation because he would pay back the loan with cheaper (inflated dollars) However, don't go buy that new sports car - it is a bad gamble to bet on what interest rates are going to do, especially for five years.
Answered by Lantern - Wed Sep 26 17:16:10 2007

How can you get a better fixed interest rate on your home and how much will it cost?
Q. Do you have to refinance to do this or can you streamline or something else?
Asked by chittychittybangbang - Sat Sep 29 09:36:36 2007 - - 4 Answers - 0 Comments

A. it normally costs between 2-3% of the loan amount. Country's product will offer a No cost program but the rate is much higher than average...this is how they offer the no cost program. streamline refi would be if you were not planning to take cash out of the property and just want a lower rate. this is a good product for FHA but you would have already had an FHA mortgage
Answered by Carolinahomerates.com - Sat Sep 29 17:51:01 2007

How does a 10 Year Interest Only 30 year fixed work?
Q. I know interest is fixed for 10 years but what happens on the 11th.
Asked by Mike G - Mon Jun 4 20:06:53 2007 - - 3 Answers - 0 Comments

A. For the first 10 years, the interest rate is fixed and you do not pay down principal, so if you had a $200,000 mortgage @ 6%, you would pay $1,000/month (200,000 * .06)/12 After the 10 years are up if becomes a regular 20 year mortage at that dates prevailing interest rate. The mortage is not meant to be held until maturity, and are useful for people not planning on staying in the house for a long time
Answered by gmp - Wed Jun 6 15:21:55 2007

What is better, a fixed interest rate on my student loan, or a variable interest rate?
Q. I will be a student at UT Austin this fall and I was wondering about which rate would be better for me.
Asked by ? - Wed Jun 17 16:11:30 2009 - - 3 Answers - 0 Comments

A. Fixed. Variable rate loans are a ripoff and only available through the alternative Private student loan sharks. All federal student loans are fixed and they will be the best rates. Avoid private student loans like the plague.
Answered by Suddenly Human - Wed Jun 17 17:42:43 2009

Can a mortgage company change my interest from fixed to variable?
Q. My mortgage was recently sold to another company. With the first company I had a fixed rate but now apparently I have a variable rate as my mortgage just increased by $500. We didn't receive any notification of this change or papers to sign . . . nothing. Just a notice last week that our mortgage payment went up due to an increased interest rate. Is this legal? I double checked all of my paperwork and everything states that I have a fixed rate mortgage. I guess I'll be calling an attorney. Thanks.
Asked by princess_g_76 - Mon Jun 23 14:14:58 2008 - - 6 Answers - 0 Comments

A. Be absolutely sure that you don't have a variable. If it's a 30-year fixed mortgage; then no they can't do that. Call them. It's possible it's a mistake due to the merger.
Answered by CEM - Mon Jun 23 14:24:09 2008

When you have a retirement account, is it fixed interest to ensure you earn money for retirement?
Q. Sorry, might be a stupid question, but I'm 17, and don't know anything about that. I know that you can put part of your retirement investments into more risky funds, but isn't some of it (probably most of it), put somewhere where you WILL make money, since lots of people cannot take a risk with that type of thing??? Please elaborate!!! Thank you!
Asked by The Chef- Dishin Out the Answers - Wed Dec 19 15:21:22 2007 - - 3 Answers - 0 Comments

A. Typically, if you are a long long way away from retirement, you'll want to put most of your savings into riskier (though not really really risky) funds. You have a long long time for the market to go up and down, and as long as you are putting your money into well balanced mutual funds and not risky risky stocks or junk bonds, you'll do well in the long run. In any given year, your funds may be up or down, but historically, in the long run, the market has gone up. As folks get closer and closer to retirement, they typically move their money into safer investments. They do this for two reasons. First of all, they don't have as much time to make up for a big loss. If you lose everything in a huge market crash when you are 25 years old,… [cont.]
Answered by Rivergirl100 - Wed Dec 19 15:35:09 2007

Will the government help ppl with fixed interest loans refinance with less fees due to massive rate cuts?
Q. (Australia) My homeloan is fixed at 9.09% (I know, you can feel sorry for me). A friend told me he thought the government were going to bring in some sort of help for people in my situation, so that we might refinance without the HUGE fees involved in swapping to a variable loan. Does anybody know whether this is true?? Where can I find info about it? the current average home loan interest rate is about 5.9 (lowest it has been in Australia in a long time).
Asked by Princess L - Tue Feb 3 19:50:48 2009 - - 5 Answers - 0 Comments

A. I have not heard anything about the government doing anything to help with people you have fixed there rate when rates were going up and have been left at rates like yours (9% plus). With rates as low as 4.69% available the banks will not normally budge on the break costs of loan such as yours. The reason the break cost is so high is because when they signed the contract the bank has a contract that you will pay 9% for 5 yrs for example. Now with the interest rates falling by the large amount that they have if they cancel the loan the bank will only be able to re-lend the money at 6% for example. $500,000.00 x 9% = $45,000.00 a year in interest $45,000.00 x 5 = $225,000.00 $500,000.00 x 6% = $30,000.00 a year in interest $30, [cont.]
Answered by thenexthomeloan - Sat Feb 7 06:12:41 2009

What is the difference between Fixed rate of interest and Floating rate of interest?
Q. Related to bank loans. Loans are provided as personal, home or vehicle loan. All banks specify fixed or floating rate of interest. Please give brief description on this.
Asked by The Real - Fri Jun 12 19:31:16 2009 - - 3 Answers - 0 Comments

A. fixed means you sign a contract at the rate offered now and it will never change. people do this bc you never know if the rate will go up.. but you may lose out if the rate goes down.. its a gamble either way floating means your rate will go up and down with the market
Answered by jess - Fri Jun 12 19:36:25 2009

If people have fixed interest rates on their home, doent this mean raising interest rates wont affect them?
Q. Everybody keeps saying that raising interest rates will cause people who own homes to have to pay more each month. However, if you have a fixed rate , does that really apply to you? And if you dont have a fixed rate, cant you get one pretty easily?
Asked by Ronald S - Sat Mar 3 10:00:43 2007 - - 10 Answers - 0 Comments

A. yes. Usually a fixed rate mortgage is taken for a set time - perhaps 2 or 3 years. You pay a fixed amount every month regardless of the changes in interest rates. However, if you try to redeem the mortgage early, either you remortgage or move house then you have a penatly to pay. The tends to be the total amount of any of the equity you have gained since starting the mortgage. Once the fixed time has passed you lose the fixed rate and it changes to the current interest rates (usually variable). At this point it is very wise to renegotiate another fixed rate terms with your existing lender ... if they won't then change companies. They are all looking for your business and will offer good fixed rate terms - especially to new… [cont.]
Answered by Leah - Sat Mar 3 10:03:42 2007

Whats the the Average Fixed interest rate on a VA loan?
Q. I'm in the military and I'm looking at buying my first house around $120,000, but i'm not sure how much my monthly payment would be with insurance, taxes, and the interest rate on a VA loan. Does anyone know what the the average interest rate is on a VA loan with excellent credit? what do you think the typical monthly payment would be at 30 years with taxes ..etc?
Asked by Dandelo - Thu Jan 22 18:20:23 2009 - - 1 Answers - 0 Comments

A. In 1985, the VA interest rate was set by the federal government. That was easy. Everyone knew what the rate was. Today, the rate changes every day. Sometimes more than once a day. Today's rate is apx 5.25%. You could make a rough estimate of your payments by using $8 per $1,000 being borrowed. A $100,000 loan would have $800 payments ( total) but not including utilities..
Answered by Ed Atun - Thu Jan 22 20:19:49 2009

Why the interest on fixed deposit less that than interest received from recurring deposits?
Q. Why do bank give less interest rate for fixed deposits than compared to interest rate received on recurring deposits.
Asked by dhiren123 - Sat Sep 13 08:28:55 2008 - - 1 Answers - 0 Comments

A. In recurring deposits banks will know their cash collections ahead, so they plan for lending .nonperfoming period for cash is less. In fixed deposits banks will start paying interest from the day of deposit and search costumers for lending.so loss of interest to banks.so they pay less
Answered by venkatindian - Sat Sep 13 09:53:23 2008

Is the 30 year Fixed Interest rate on a house loan going to lower at all near election?
Q. I have to close on my house that I am building in November- It should be done being built by then I hope. I was wondering what to do with my rate as far as locking it in now or waiting to see what happens by November. I hope all this talk about inflation will be over and the bond market will be doing a little better--Any ideas or thoughts would be appreciated
Asked by Charles C - Mon Jun 30 05:10:37 2008 - - 4 Answers - 0 Comments

A. I wouldn't bet on it. With the true inflation rate starting to show up in the government's 'cooked' calculations, expect higher rates to follow.
Answered by Tony D - Mon Jun 30 05:54:11 2008

Fixed mortgage, while interest is low am I paying off a lot more capital each month?
Q. While other kinds of mortgage payments have dropped in line with the interest rate, a fixed rate stays the same. Does this mean that whilst the payments are much higher, the amount of capital paid off each month is more. (its a capital & interest type)
Asked by allante666 - Fri Dec 5 07:40:20 2008 - - 10 Answers - 0 Comments

A. Stop. You might see interest rates dropping, but mortgage rates have not dropped. Interest rates on home mortgages have held very, very steady. Now, think about this. The feds have basically made the bank lending rate 0. That means interest rates WILL only go up from here. If you get yourself tied up in a short term fixed ARM. In 5 years your interest will triple, and you may lose your home. Stay with the fixed. Right now with 20% down they are at 6%. With these loans, there are no prepayment penalties, so you can pay extra principal if you want. You can even pay your home 10 years earlier if you want. /
Answered by Judy - Fri Dec 5 07:52:25 2008

Should I roll my heloc to a lower interest fixed CC?
Q. I have about 50K on my heloc at over 6% fixed for 15 years. I have been getting a lot of credit card offers and a recent one is a 2.9% on balance transfers for the life of the loan with a $75 max fee. Does it make sense to pay off my heloc as much as my CC limit allows, probably close to payoff, so that I pay a 2.9% interest on it for life but lose the tax deduction on the heloc at >6%? Or should I just stick with my heloc since CC are sometime quite shady with their practices? Thanks in advance... It's 2.9% fixed for the life of the loan. Not intro rate that's temporary.
Asked by George S - Fri Feb 16 14:15:21 2007 - - 4 Answers - 0 Comments

A. The short answer is yes, but be careful. First, look at the potential benefit. Assuming a $40M transfer, your effective interest rate, including the $75 transfer fee, is no more than 3.1% if you're taking more than a year to pay it off. If the nominal interest rate on your HELOC is 6.25% (anything under 8.25% is pretty good, by the way), then your effective after-tax interest rate (assuming only a 15% tax bracket) is 5.3%. The 2.2% difference comes to about $75 per month, which I think makes the transfer worth considering. However, be aware that you shouldn't use the credit card for any other purpose - most credit cards require you pay off charge balances at a much higher interest rate before any payments are applied toward the balance… [cont.]
Answered by Marko - Fri Feb 16 14:36:14 2007

what are index-linked gilts, fixed interest securities, bank deposits equities and real estate investments?
Q. there are various investment options including index-linked gilts, fixed interest securities,bank deposits, equities and real estate. Consider the strengths and weaknesses of real estate investments as compared to each of the following investment vehicles.
Asked by Leo - Thu Feb 28 09:24:16 2008 - - 1 Answers - 0 Comments

A. I will do the first two: Index linked gilts are government bonds or govt. borrowing. The difference to odinary gilts are that they are inflation proff. Their rate of interest doe not get eroded biy inflation. So they are attractive in fallin interset rates and increasing inflation, like now. Fixed interest are bonds, either govt. or corporate. The Govt. or company initially borrow money at a fixed rate and the a secondary market is established. As the interst rate )coupon) is fixed the only moveable bit is the price. If interest rates go down bond prices go up and vice versa. Again good in times of falling interest rates.
Answered by raysor - Thu Feb 28 09:43:08 2008