Yea, how does the 7 points work? It is applied to the total loan amount right at the beginning? Then in addition to that its 11.90% interest?
So how much would the total come out to? It would be higher then $6000 right?

 

go to school, buy a bike! if this doesnt keep kids in school, i dont know what will!

 

"• Origination Fee: 7.00%"

(ie on 5000 = 7% fee x 5000 = $350)

So loan would be $53500 @ 11.99% if you want to pay it off in 3 years = $177.67/mo (just so you know, truly =s 16.76% then becasue of origination fee--points if 3 year term)

Not horrible if you truly have no credit/bad credit.

Did you ever find out your credit score???