What Does the Average American Loan Look Like? (2017)

Just because the average household has over $136,000 dollars in debt, that doesn’t mean we’re slowing down when seeking new financing. For student loans the average graduate now leaves school with over $37,000 in loans to repay. For a borrower aged 20 to 30, the average monthly payment is about $350 dollars. If you plan to get a new student loan here are the current interest rates on federal loans. For new credit cards, the interest rates are higher now than they were in 2016 but a bad credit score means an even higher APR. Your available credit limit also depends on your credit score. Auto loans today have longer and longer
terms, yet the average monthly payment is up to almost $500. The average amount financed for a new car versus a used car varies by more than $10,000 dollars. Finally in mortgages the average home loan as of January 2017 was more than $300,000 With an average interest rate of 4.1% on a 30-year mortgage. The average monthly
payment was almost $1,500. If you need help to pay off all this debt visit us at debt.com or call 1-844-402-3574

Paul Whisler

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