Add-on Interest
Add-on Interest
Interest that is computed at the beginning of the loan, then added to the principal, so that all must be repaid, even if the loan is paid off early. The result of this is interest charges that can be double that of the stated simple interest rate.
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National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 4.83 |
| 15 yr fixed | 4.39 |
| 5/1 ARM | 3.69 |
Rates may contain points
