Quizzes & Puzzles7 mins ago
which lender is better option
2 Answers
4. Louisa and Marco have found the house of their dreams, but they need to borrow $250,000. They are considering taking a loan through RAMS and mecu. RAMS offers a Basic Home Loan at the variable rate of 6.69% pa for 30 years, whilst mecu is offering an Introductory Home Loan with a fixed rate of 6.29% pa for the first year and then reverting to the variable rate which is currently 7.3% pa, also over 30 years. Assuming that Louisa and Marco will be making fortnightly payments, which lender do you recommend and why? (Note: you will need to find the repayments and also the total amount of interest paid over the life of the loan. Assume that all other conditions are identical
Answers
1 to 2 of 2
Best Answer
No best answer has yet been selected by rana207. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.1 to 2 of 2
Related Questions
Sorry, we can't find any related questions. Try using the search bar at the top of the page to search for some keywords, or choose a topic and submit your own question.