Loan term

Over 2200 Glossary Terms

Loan term

The period of time in which the borrower has to repay the loan as specified in the original loan contract. Auto loans are typically 4 years, whereas mortgages have a loan term of 15 or 30 years.

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Loan Type Today
30 yr fixed 4.83
15 yr fixed 4.38
5/1 ARM 3.68

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