What is Deferred Interest?

on Topics: Loans

Have you ever been in the process of making a purchase and been offered a deferred interest option? Wondering whether this is a good idea or if there are any drawbacks to doing so? Learn more about deferred interest on our blog.

There are a lot of reasons loans are denied. A lack of credit history, high debt-to-income ratio, or a recent change in jobs or income can disqualify you for a loan. Lenders want to loan money to applicants who are likely to repay the loan on time and without missed payments or other trouble.

Few things are as motivating than seeing your savings increase. By putting even a small amount of money into savings each month, you will gradually see that amount grow – a great catalyst to continue to save more and more.