I have the opportunity to take out an unsecured personal loan. The terms are that the first payment is due a few months after I graduate. My question is this: If I take that loan for, say, $20k, when the first payment comes due, can I send them a check for $20k and be on my merry way? In other words, do I still owe interest on the money while it’s in my possession, even though I don’t have to make any payments on it?
Posts Tagged ‘Early’
Can You Pay Off The Balance Of A Loan Early Without Having To Pay Interest ?
February 24th, 2010Can Closing On A Loan A Few Days Early Save Money In The Long Run?
January 14th, 2010Our loan company has requested we move our closing date from July 2nd to the end of June. Our real estate agent stated it might save us some money in additional interest accrued in the long run. Our due date for the payment will not change. Does anyone know if this is true or is there any reason to not agree to close a few days early?
