Personal Loans Articles
APR, amortisation, debt-to-income and secured versus unsecured: what a loan really costs, and how a lender sizes you up.
APR vs Interest Rate: What a Lender Is Actually Telling You
Two loans can advertise the same interest rate and cost meaningfully different amounts. The APR is the number designed to expose that difference.
How Loan Amortisation Works, and Why Early Payments Are Mostly Interest
Your loan payment stays the same every month, but what it buys changes completely. Understanding the split explains why overpaying early is worth so much more than overpaying late.
What an Extra $200 a Month Does to a 30-Year Mortgage
An extra payment aimed at principal removes every future interest charge that principal would have generated. On a 30-year loan the effect is larger than most people expect.
Debt-to-Income Ratio: How a Lender Sizes You Up
Your DTI is the number a lender uses to judge whether you can absorb another payment. It is simple to calculate, and there is no single threshold, despite what you may have read.
Secured vs Unsecured Loans: What the Lower Rate Costs You
Secured borrowing is cheaper because you have handed the lender something to take. That trade is worth making sometimes, and it is worth understanding every time.