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Loan Example: Loan Amount $3500, APR 8%, Loan Terms (Months) 36, Monthly Payment $109.68, Total Interest Paid $448.48 When we had Buckley check out his credit score with Equifax, and the other credit bureaus, we discovered that his FICo score was 660 – not all that bad, but not amazingly great either. Certainly for a personal loan that isnt secured with some form of collateral, he will be paying a higher APR than he would like. If he got a co-signer who has a stellar credit rating (high FICO – 700 +), he could get much lower rate. In this case he took our advice and did find a co-signer, so below we show you the breakdown of the loan agreement he got with his bank. 5. Better yet: Wait until age 70 Where Do You Stand?
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