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Is a $10,000 loan @ 5% for 10 years with a $106 monthly payment better or 3% loan with a $100 monthly payment for 10 years. Why?
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4 votes
Is a $10,000 loan @ 5% for 10 years with a $106 monthly payment better or 3% loan with a $100 monthly payment for 10 years. Why?

User Greggilbert
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1 Answer

3 votes
No.

The lower-cost loan is generally considered better from the borrower's viewpoint.

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If you're subsidizing the lender, then the more expensive loan will do a better job of that. It depends on what you intend by "better."
User T D Nguyen
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