Ask Question
13 April, 01:15

Why do housing lenders charge more interest up front?

+1
Answers (1)
  1. 13 April, 03:20
    0
    Why do housing lenders charge more interest up front? More interest is charged up front because the outstanding balance of the loan is higher. As time passes and the loan starts getting paid down, the amount of interest that is paid to the lender also goes down. If you look at a mortgage statement it appears the first few years are all mainly interest because the loan is much higher. The more time you spend paying your home loan, less money will go to interest.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Why do housing lenders charge more interest up front? ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers