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: Most loans are installment-based, meaning you pay back a fixed amount every month over a set term.

: Lenders primarily look at your credit score , steady income, and debt-to-income (DTI) ratio to decide if you qualify. When a Loan is a Helpful Tool : Most loans are installment-based, meaning you pay

: This is the cost of borrowing. Rates can be fixed (stays the same) or variable (changes with the market). : Most loans are installment-based