Select a term from the dropdown text box. The online mortgage
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In many contexts, the terms "loan duration" and "loan term" are used interchangeably.
On this web site, we try to distinguish between loan duration and loan term.
- Loan term refers to the amount of time that a borrower is given to pay
off a loan.
Loan duration refers to the actual amount of time that it takes a
borrower is to pay off a loan.
At most, the loan duration will be equal to the
However, the borrower can reduce the loan duration by making