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Leonard Pokrovski

added blog Personal Finance
2025-11-14 21:40:14 -

What Are the Different Types of Mortgage Interest Rates (Fixed vs. Variable) and How Do They Work?
What Are the Different Types of Mortgage Interest Rates (Fixed vs. Variable) and How Do They Work? When you apply for a home loan, one of the biggest decisions you’ll make is choosing the type of interest rate. Mortgage interest rates come in two primary forms—fixed and variable (also called adjustable-rate). Each type affects how your monthly payments change over time, your total...

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Leonard Pokrovski

added blog Personal Finance
2025-11-06 19:20:01 -

Can I Pay Off My Loan Early? What Happens If I Repay Ahead of Schedule?
Can I Pay Off My Loan Early? What Happens If I Repay Ahead of Schedule? Managing a loan responsibly often leads to an important question: “Can I pay it off early?” Whether you have a personal loan, mortgage, car loan, or student loan, repaying ahead of schedule can be appealing. The idea of being debt-free sooner — and possibly saving on interest — sounds ideal....

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Leonard Pokrovski

added blog Personal Finance
2025-11-17 17:48:03 -

How Long Will the Mortgage Last? What Terms Are Available, and Which Should You Choose?
How Long Will the Mortgage Last? What Terms Are Available, and Which Should You Choose? When you take out a mortgage, one of the most important decisions you’ll make is how long the loan will last—its term. Although interest rates tend to dominate mortgage discussions, the loan term is just as influential. It shapes your monthly payment, the total interest you’ll pay,...

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Leonard Pokrovski

added blog Personal Finance
2025-11-05 15:58:48 -

How Much Can I Borrow and How Long Will I Have to Repay the Loan?
How Much Can I Borrow and How Long Will I Have to Repay the Loan? Understanding Loan Amounts, Terms, and How They Differ by Loan Type When you apply for a loan, two of the most important questions are “How much can I borrow?” and “How long will I have to repay it?” These factors—loan amount and loan term—determine not only the size of your monthly payments...

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Leonard Pokrovski

added blog Money
2025-09-27 16:39:04 -

How much can I borrow? (especially for home loans)
How much can I borrow? (especially for home loans) When buying a home, one of the first questions most people ask is: How much can I actually borrow? The answer isn’t one-size-fits-all—it depends on your income, expenses, credit profile, and the lending policies of the bank or lender you approach. Understanding these factors can help you set realistic expectations and prepare for...

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Mark Lorenzo

added blog Financial Services
2023-05-22 20:01:55 -

How rising or falling interest rates might affect you
When the Federal Reserve raises or lowers its target interest rate, the change affects consumers too. The federal rate helps determine the interest you pay on loans and earn on savings, so it matters to just about everyone. Here’s what might change when rates rise or fall. 1. Your mortgage payments If you have a fixed-rate mortgage, you won’t be affected by a rate...

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Leonard Pokrovski

added blog Money
2025-09-27 16:35:30 -

What does loan-to-value mean?
What does loan-to-value mean? When it comes to borrowing money—especially for big purchases like a home or a car—you’ll often hear the term loan-to-value ratio, or LTV. It’s an important number that lenders use to measure risk and determine the terms of a loan. But what exactly does it mean, and why does it matter? Defining Loan-to-Value The loan-to-value ratio is a...

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Leonard Pokrovski

added blog Money
2025-09-27 16:48:35 -

What is a balloon payment?
What is a balloon payment? A balloon payment is a large, lump-sum payment due at the end of a loan term, typically much larger than the regular monthly installments made throughout the loan. This structure is common in certain types of mortgages, auto loans, and business loans, and it allows borrowers to make smaller payments initially before facing a substantial final obligation. How a...

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Leonard Pokrovski

added blog Personal Finance
2025-11-05 15:57:02 -

What Is a Loan?
What Is a Loan? A Comprehensive Guide to Understanding Borrowing, Interest, and Repayment Introduction In today’s world, few people can pay upfront for life’s major expenses — a house, a car, an education, or a business venture. That’s where loans come in. Loans are an essential part of modern finance, enabling individuals, businesses, and governments to achieve goals...

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Leonard Pokrovski

added blog Personal Finance
2025-11-13 17:30:12 -

What Is a Mortgage?
What Is a Mortgage? A mortgage is a long-term loan secured by real property — usually a home — that allows individuals or businesses to purchase real estate without paying the entire price upfront. Instead of buying the property outright, a borrower agrees to repay the lender over time, typically in monthly installments that include both principal (the amount borrowed) and interest...

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