Is refinancing a loan worth it Georgia

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Calculation example: with a loan amount of USD 100,000 at 10% per annum, for a period of 1 year, the total amount to be repaid will be equal to: USD 105,499.06, with a monthly payment: USD 8791.59. The consequences of not paying the loan are regulated by the legislation of USA.

    When is refinancing needed?

    The service is usually not provided to borrowers with delinquency on current debt obligations. Therefore, on-lending makes sense only if the client maintains a sufficient level of solvency. He will be offered a new loan at a reduced interest rate to reduce his monthly payment.

    Refinancing is not always beneficial. The execution of a new contract is fraught with costs. Therefore, it is necessary to correctly calculate all costs, including commissions, fees for the removal of encumbrances from the pledge and additional costs.