How much does a personal loan cost?
The total cost depends on amount, APR, term, fees and whether payments are made on time. A $25,000 loan at 12.44% APR for 60 months has an estimated payment near $561 before any optional services.
Questions and answers
Loan questions
Common questions about loan costs, payment schedules, APR, prepayment and eligibility.
What affects a mortgage payment?
Principal, interest rate, property taxes, insurance, loan term and down payment all affect the monthly payment. Escrow items can change even when principal and interest are fixed.
Can I pay off a loan early?
Many consumer loans allow early payment. Customers should review the note and payoff quote for accrued interest, processing timelines and any special conditions.
What is APR?
APR is the annual percentage rate. It combines interest and certain finance charges into a yearly cost figure so borrowers can compare offers.
How long does a loan decision take?
Online prequalification may appear quickly, but final approval can require identity checks, income review and document verification.
What documents are needed for a home loan?
Common items include income statements, bank statements, tax documents, identification, purchase agreement and insurance information.