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How can you figure what the payment would be on a 15 year home mortgage?
Wiki User
∙ 12y ago
In order to figure a mortgage you need 3 things - the principal amount of the mortgage, the interest rate and the term, or length of the loan. Once you know those three key numbers, just plug them into a mortgage calculator.
Wiki User
∙ 12y ago
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What is her monthly principal and interest payment if Dora is purchasing a 162000 home with a 30 year mortgage at 5.15?
884.56 ApEx :)
What is the formula for calculating a reverse mortgage?
Getting the reverse mortgage on your home entails finding the area the home is located, the amount of the mortgage owed on the home, and the estimate of the home value. It usually helps elderly clients if their home value is significantly more than the mortgage owed, if any.
FHA Mortgage Loan Calculator?
FHA Mortgage Loan CalculatorUse this calculator to determine the maximum FHA mortgage that would be allowed for your home purchase and an estimate of your required downpayment and closing costs. This calculator is designed to determine the mortgage FHA limit for a particular purchase, not the maximum allowed for any home in your state and county. To determine the maximum purchase price for your area you should use https://entp.hud.gov/idapp/html/hicostlook.cfmat the HUD.gov. Then use the calculator below to determine the required downpayment and FHA mortgage limit.-
Mortgage Calculator?
To find a good mortgage calculator you could go to sites like, www.mortgagecalculator.org or www.mortgage-calc.com, I think they work very well, otherwise you could go to google.com and search Mortgage calculator for some very trustworthy sites. Good luck!
What is the percent that you have to put down when buying a home?
All sorts of lenders offer mortgages for as little as 3% down. It depends on what you qualify for, and what kind of financing you want to accept (MI, second mortgage, etc.)Ask around.AnswerDo a little research. We've bought homes with NO downpayment. Yes, it really is possible.But for most people, I'd recommend putting down as much as you can. Lowers your payments, you can often get a better interest rate, the downpayment is equity and it counts as pricipal rather than interest. If you don't think that last is important, have a nice long look at an amortization schedule sometime.It'll turn you stomach to realize how much your home /really/ costs you in the long run.AnswerIt all depends on what type of mortgage you are interested in... A lot of lender's offer 100% financing, but you will still need to come up with all closing costs associated with a purchase...For more info go to www.easy4myloan.com. The staff is very friendly and helpfull with any and all of your questions. AnswerIf you have served in the military you are probably eligible for a VA loan which has 0 down options. Also, an FHA loan has a down payment of 3.75% and when you purchase a home you can get the seller to contribute towards closing costs to conserve your cash. As far as putting as much down as possible, only when you get to 20% down do you eliminate the PMI or MIP (mortgage insurance payment). I would conserve the cash and have a 6 to 8 month emergency fund rather than putting it down on the house. You can always make extra principal payments and the interest is deductible after all. I would also find a local lender that you meet face to face, internet lenders might save a little money, but I have had too many deals where the underwriter is in Cincinnati, the lender is in Seattle, the property being sold is in Atlanta and you can never get a straight answer to a question in less than 72 hours!
What will the monthly mortgage payment be on a $115,00 home mortgage in Volusia County, Florida at 3.5% interest for 30 years?
You can figure out the mortgage payment by using a mortgage calculator tool to breakdown the monthly payments over time. I would input the details to get the final figures.
Can you use a second mortgage as a down payment?
You can use a 2nd mortgage on a home for the down payment of another home. The payment for the 2nd mortgage will need to be added to your debt ratios.
Who do you make your Wells Fargo mortgage payment payable to?
wellsfargo home mortgage
If I want to invest in homes, what would the mortgage financing be?
You can use an online mortgage finaciing site that will calculate what you mortgage payment, closing costs and initial insurance costs would be for the home that you are looking at.
What is the monthly payment on a home on Hibiscus Island in Miami?
First you need to know the purchase price of the home and then figure out the amount of the mortgage you will take out on it. Use a mortgage calculator (bankrate.com is a good one) to estimate what the payments will be. The actual payments will depend on what interest rate you get from your lender and what expenses you choose to include in the payment, such as property tax and home owners insurance.
Do you need a home mortgage calculator before buying a home?
no but it can help you figure out how much you would pay and how much you can afford.
Where can I calculate my home mortgage payment?
Mortgage payments can be calculated by the bank the mortgage is financed through. To do this on your own, there are websites with mortgage calculators such as calculators.bankrate.com.
How do banks calculate mortgages and mortgage payments?
Banks will often use the term of the loan, the downpayment, the total cost of the home, your personal interest rate, yearly property taxes as well as yearly homeowner's insurance to calculate the mortgage and the mortgage payments. There are many sites that have mortgage calculators, which include many of the variables that you can enter to figure out exactly what your payment would be.
What is a mortgage payment calculator?
A mortgage payment calculator will calculate your monthly mortgage payments. You can find a full list of helpful information at: www.bankrate.com/calculators/mortgages/mortgage-calculator.aspx
Why would a person want to remortgage their home?
Remortgaging a home can lower a monthly house payment. With today's lower interest rates one can save hundreds monthly on a mortgage. Shortening the mortgage term is another reason to remortgage. With lower interest rates one can keep the same mortgage payment, but the length of mortgage is shortened. While the monthly payment may remain the same, the overall term of the loan is decreased.
What are different types of mortgages, and which is right for me?
A sub prime mortgage is a mortgage that would be right for you if you are looking to pay a lower prime rate for your payment after buying your new home.
How does a reverse mortgage purchase work?
Similar to a purchase with a regular mortgage. The difference is that you need a large enough down payment to qualify, and you won't ever have to make a mortgage payment on the new home.
