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Originally Posted by Matt13C  That is about the same as a personal loan. If they give the option of deferment that would be nice. The poss of 24% is scary though, that is a LARGE sum of money.
I find it funny though how we all complain about interest rates. We are still near historic lows, we are spoiled. My parents bought their house at around 16% and that was low end when they bought. |
When was that? During the Carter administration? The rates were horrible because the economy was in the crapper. I have an ad for 15% 6 month CD rates from '81.
Anyway, 24% is for folks who have NO business getting a loan in the first place (like a FICO around 520). If your FICO is over 760, you'll get the lowest rate.