[RedBloodedAmerican]

Is it thru a legit bank or one of these "free cash from us" folks?

If it's not a legit bank, like BofA, I am laughing my butt off here. What is your repay percentage?

[NRA2BFree]

It would depend on what your contract says. The best way to know how, when they are going to pay you and whether there is a "prepayment" penalty or other contract stipulation, is to call them and ask them. You might want to read the fine print on the contract to see what it says about prepayment, if you haven't done that already. Lenders are usually very clear about the terms of their loans.

[politicket]

1. Most lending institutions will require that you take a minimum amount "up front" before they will do business with you (usually in the neighborhood of $20,000).

2. Interest begins accruing on the balance outstanding immediately upon loan payout and is usually amortized over a 30-year period.

3. Unless you have REALLY important needs for the money then it is best to pay it all back immediately (or as soon as the contract allows) since these types of loans are dangerous IMHO. These loans use your HOUSE as collateral, therefore if you default on your loan your house will be foreclosed upon. A house should never be used as collateral for anything other than your primary mortgage.