How a 401k Loan Works

How a 401k Loan Works

A 401k loan is a great way to finance a large purchase or consolidate debt. But how does a 401k loan work? Read on to find out. Checkout this video: Introduction Assuming you are still employed with the company in which you have the 401k, you can usually borrow up to 50% of your 401k…

What Does Loan Term Mean?

What Does Loan Term Mean?

Loan term is the length of your loan , typically expressed in years. Here’s how it works and how it affects your monthly payments. Checkout this video: Loan Basics A loan’s term can refer to the length of time that you have to repay the loan. For example, a 30-year mortgage loan has a term…