Successful PenFed SSL Loan

[Patient957]

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@Snook_on_the_Line wrote:

Is it possible to set up an automatic payment for just the intrest.   

in your case, $.32 per month 

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Yes.

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@Snook_on_the_Line wrote: 

also can you schedule payments to resume at $25/ month on schedule 

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No.  Right now, it will only let me schedule a payment out to 2025, not later.

[masscredit]

Something I don't remember... We want to pay the loan down to <9%.  If paying it to 8% then not making a payment for awhile, does 8.1%-8.9% round it to 9% for scoring? 

[FicoMike0]

@masscredit 

Interesting question. 

By my rough calculations it would take more than four years to get from 8% to 9%.

I believe the goal is to have a balance that rounds to nine or less. That would mean the real upper limit is 9.4%.