0
What are the monthly payments on a 30 year fixed rate mortgage at 5 percent?
Wiki User
∙ 14y ago
This would depend on the principal balance of the mortgage.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What are the pros and cons of adjustable rate mortgage compared to a fixed one?
As opposed to a fixed mortgage rate an adjustable rate mortgage allows an individual to start of their mortgage with lower monthly payments. However, these monthly payments increase over time which demeans the value of saving money on your house.
What describes how a fixed-rate mortgage works?
The monthly payment on a fixed-rate mortgage never changes.
What type of home mortgage has payments that CANNOT change?
fixed-rate mortgage
The price of a home is 220000 The bank requires a 20 percent down payment The balance is financed with a 30 year fixed rate mortgage at 75 percent what is the monthly mortgage payment to the neare?
an arm and a leg...
What mortgage rates does Diteck offer?
Ditech offers fixed and adjustable mortgage rates. With their fixed rates one can set it between 15 and 30 years. The 30 year rate is longer, but the monthly payments are less than what one will be expected to pay for the 15 year plan. An adjustable mortgage rate will start out low, but can increase, requiring more interest paid along with the regular payments.
What are the pros and cons of adjustable rate mortgage compared to a fixed one?
As opposed to a fixed mortgage rate an adjustable rate mortgage allows an individual to start of their mortgage with lower monthly payments. However, these monthly payments increase over time which demeans the value of saving money on your house.
What describes how a fixed-rate mortgage works?
The monthly payment on a fixed-rate mortgage never changes.
What type of home mortgage has payments that CANNOT change?
fixed-rate mortgage
The price of a home is 220000 The bank requires a 20 percent down payment The balance is financed with a 30 year fixed rate mortgage at 75 percent what is the monthly mortgage payment to the neare?
an arm and a leg...
What mortgage rates does Diteck offer?
Ditech offers fixed and adjustable mortgage rates. With their fixed rates one can set it between 15 and 30 years. The 30 year rate is longer, but the monthly payments are less than what one will be expected to pay for the 15 year plan. An adjustable mortgage rate will start out low, but can increase, requiring more interest paid along with the regular payments.
What is simple mortgage?
A mortgage is simple if it lacks complexities such as adjustable rates, balloon payment at end, mortgage insurance, reverse mortgage, second mortgage, etc. Fixed payments over fixed time-frame.
What is a fixed mortgage and how can you obtain one?
A fixed mortgage rate is where the payments are the same for the entire term of the mortgage, as apposed to adjustable rates which can fluxuate at certain times. Most reputable Mortgage and Loan companies offer fixed rate mortgages.
What are the advantages of a 15 year fixed mortgage rate?
A fixed rate mortgage is advantageous because the borrower will know that their payments are fixed. This type of mortgage also generally has lower rates that a 30 year one.
When is an arm mortgage calculator used in banking?
An ARM mortgage calculator is used when you have an adjustable rate mortgage instead of a fixed rate mortgage. It is recommended that you get a fixed rate mortgage to avoid sudden spikes in your monthly payment.
What type of mortgage is designed so that payments remain the same throughout the life of the loan?
fixed-rate mortgage
Can we refinance a balloon mortgage to a fixed mortgage?
Yes, usually through the lender that originally financed you. They want their money, right? So, if you cannot make the balloon payment when due, it is in their best interest to refinance you into an affordable fixed rate loan. This way, you can make monthly payments, and they get their money = everyone happy.
Option ARM vs. Fixed Rate Mortgage?
Option ARM vs. Fixed Rate Mortgage A fixed rate mortgage has the same payment for the entire term of the loan. The Option ARM uses a low initial rate to calculate your initial minimum monthly payment. Although the interest rate will increase after 1 to 3 months, your low payment will remain fixed for the entire year. This can produce a much lower monthly payment than a traditional fixed rate mortgage, or even an adjustable rate mortgage (ARM).
