The interest rate on a loan is an important factor to consider when taking out a loan; it is the rate of interest that is charged as a percentage of the total loan amount and plays an essential role in determining the monthly payments on the loan. It is important to understand that the higher the interest rate, the more expensive the loan will be in terms of the total amount that is repaid. Therefore, it is important to be aware of the interest rate offered on a loan before taking it out to ensure that the payments are manageable.
About the author:
Daniel H. Weberman, The Kabinet Founder – Terry I. Weberman, The Kabinet CPA
Daniel is an attorney and the founder of Kabinet. He is always here to help answer your home ownership questions as well as anything related to using your Kabinet app. Ask Daniel a question by sending an email to info@completehome.io and put “Daniel” in the subject line. This is a complimentary service as part of Kabinet’s commitment to you!
Note
Daniel, The Kabinet Founder, has made every effort to ensure the accuracy of the information within this article was correct at time of publication. He does not assume and hereby disclaims any liability to any party for any loss, damage, or disruption caused by errors or omissions, whether such errors or omissions result from accident, negligence, or any other cause. Speak to your advisor to make sure you qualify for such benefits or opportunities. Do not rely solely on this abbreviated article, it is for informational purposes only.
