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When payment and compounding frequencies differ, we initial estimate the Equivalent Desire Charge to ensure interest compounding is similar to payment frequency. We use this equal rate to make the loan payment amortization routine.
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SoFi features comparatively lower APRs and doesn’t cost origination fees, late service fees or prepayment penalties—a stand-out attribute since individual mortgage lenders generally cost origination or late payment fees at a minimum amount.
SoFi is an internet lending platform that pr