When taking out a loan with APX Lending, you may see different payment structure options depending on the loan configuration. These options determine how and when your loan payments are made over the life of the loan.

Below is a breakdown of the available payment types.

Interest Only

With an Interest Only loan, you pay only the interest each month during the loan term.

The principal (the original loan amount) is repaid in full at the end of the loan term.

Interest accrues daily and is charged monthly according to the terms outlined in your loan agreement.

Amortized

With an Amortized loan, each monthly payment includes both principal and interest.

Over the life of the loan, the outstanding balance gradually decreases until the loan is fully repaid by the end of the loan term.

Interest accrues daily and is charged monthly according to the terms outlined in your loan agreement.

Deferred

With a Deferred loan, payments are postponed during the loan term.

Interest continues to accrue throughout the loan period, and the total amount owed (principal plus accrued interest) is repaid at the end of the loan term, according to the loan agreement.