how much interest can a finanal lender charge for a loan. What percentage rate by law can they charge?
152785
they can charge what they want, but usually you can find a low rate because they all try to get the lowest to get you to borrow from them
474177
Interest rates very by company.\n\nYou say A+ credit, but one companies A+ may be another companies A.  DTI (Debt to Income) ratio will also factor in the interest rate that you can get, the higher DTI the higher the interest rate.  Also residual income will play a factor, the lower the residual the higher the interest rate.\n\nThe fact that you are getting a loan for a second home and it will be 100% financed will also raise the interest rate.\n\nI can't tell you what your rate will be, but I suspect it will be higher that you think it should be.
450916
They should have told you when you refinanced what interest rate they were charging you.  It is legal to change the interest rate.  You should also have asked what rate they were charging.  You didn't read the contract carefully.
808126
A good interest rate is 4.9% or better.  Whether or not they will give it to you with 670 is another question.  You might want to try and get a pre-approved loan from a lender like Capital One or something first, then you can go shopping with a blank check.  Dealer financing is usually more expensive.  I would guess that you'll land financing around 15% from the dealer.
358568
many states have different policies. i live in north carolina and had my loan sold 3 times but interest stayed the same.check with the state commerce office
253596
its around 4-5%. i have a student loan and my interest rate is 4.6%
560434
They are telling you that the 8% interest on the amount financed by the bank is $600.  They are telling you what the simple interest is on the amount financed for the first month.\n\nInterest = Principle*Rate.  Assuming that the 8% interest is an annual rate, what would that be for one month?  8%/12 = 2/3% or .00666666.\n\n$600 = Principle * 2/300.  So, the amount borrowed or the principle was 600*300/2 = 90000 dollars.\n\nIf they borrowed 90000 dollars and it was 90% of the purchase price 90000 = 90%*Purchase price, that means it was a 100,000 dollar house to begin with.\n\nWe can do it backwards to check.  Start with 100,000 dollar house.  Now, make a 10% down payment and finance the rest, 90,000.\n\nThe first months payment on the interest would be 1/12 or the 8% on 90,000 or 1/12*.08*90000 = 600.  Yep, it was a 100k house.
407714
Sure you can. Make sure you draft a contract with interest rate and term of the loan. Also make sure you don't cross Usuary - that is the maximum interest you can charge.\n\nIf loan is LARGER then register it with county court clerk so that it stays on the record and incase of default/bank ruptcy you have first right then others.
74708
Whatever the "average" interest rate is, I'm not sure why you're interested.  I would think you'd be looking for the lowest rate.\n\nIf that's what you're interested in, I suggest you find a credit untion near you that you qualify to join and apply for your loan there.\n\nThe next best way to get a low interest loan is by using collateral like with a car or home equity loan.  Do you have a car or home with equity that you can use as collateral for a loan?
179278
Whenever a bank quotes a rate it is by law quoted as APY. They can't quote it any other way. I believe federal banking regulation D states that. Sorry if I'm wrong on which reg it is. Anyways. .1% is exactly that on tenth of a percent Annual percentage yield. What they mean when they say paid daily is that if you go in a close your account today and you opened it 21 days ago you will get paid interest for 21 days. Most banks only pay out interest monthly or in quarters and if you were to close your account on any day other than the payout day you would lose any accrued interest from last payout.
1124425
the rate that it could adjust to is posted in your note! read your note. You need to refi this note to a fixed rate. With that start rate you must have had some credit issues. Start the process today. I am a loan officer in TN only>
913463
12%\n\nThe rate paid on the loan is 12% (assuming simple interest rather than compounding). The compensating balance is just cash kept as a deposit, which the company gets back.  This doesn't affect the interest on the loan - just opportunity cost.
32599
You are charged the "annual percentage rate" all the time. For example; if the APR is 18%, 18% divided by 12 months = 1.5% per month. \n Most times if you repay in 30 days, you pay no interest.\n On special promotions "no interest" may be 60, 90 days, or months, or next year. Whatever.
740874
Yes, but only if it's an unsecured loan. \nIf secured by an asset, then it's a bit high and I would start asking questions.
643649
I'd be careful with how much the seller is willing to pay.  Lenders have a limit to how much the seller can contribute towards your closing costs, usually either 3% or 6% of your purchase price depending on the type of loan you get.
75920
I would of thought that this is a Federal issue since the Constitution says that controlling commerce falls under the federal goverments job, but after doing a search I found I was wrong. Each state is allowed to set a limit as to what interest rates a bank can charge. While the PDF linked below doesn't give rates by state, it gives some interesting info.
161399
Yeah, the interest rate that your credit card company charges you!