Angel M asked:
There’s a company that’s offering 1.5% APR interest only loan for anyone that has a credit score of 620 or above. They advised that if I take the $800 in savings and invest it, I can use the savings to pay off all of my outstanding debt. In 5 yrs after the loan is over we would do it again but because it’s interest only that I’m paying the amount of the new loan will be more than the original loan. We just need some professional advise.
There’s a company that’s offering 1.5% APR interest only loan for anyone that has a credit score of 620 or above. They advised that if I take the $800 in savings and invest it, I can use the savings to pay off all of my outstanding debt. In 5 yrs after the loan is over we would do it again but because it’s interest only that I’m paying the amount of the new loan will be more than the original loan. We just need some professional advise.