0
Mortgage payment can either be fixed or variable cost. A fixed cost means the interest rate charged on the loan will remain the same for the loan's entire term. A variable cost means the interest rate changes or decreases as time pass.
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
Is royalties a fixed cost or variable cost?
Variable by definition, as it is a usage based payment. If a royalty is a fixed cost it's usually more of a "right", like buying the "rights" to make the next James Bond movie.
Marginal versus variable costing?
Variable cost refers to the TOTAL variable cost of all units, whereas marginal cost is the variable cost of the last unit only. Variable cost is the sum of all the individual marginal costs. The derivative of the Variable Cost is the Marginal Cost. The integral of the Marginal cost is the Variable Cost.
Is the depriciation cost is variable cost?
yes..depreciation cost is the variable cost..
What is the formula to find the average variable cost?
Average Variable Cost = Total Variable Cost/ Quantity Average Cost = Average Fixed Cost + Average Variable Cost Average Cost = Total Cost/Quantity
Is the cost of fuel for vehicles a variable cost?
Variable cost: The cost change with the change in activity is called variable cost. So as much fuel used cost increased accordingly so it is variable cost.
Why do most home owners pefer a fixed rate mortgage?
You know exactly how much your mortgage payment is and will be in the future. With a variable rate your interest rate jumps up at some future date and your mortgage payment increases.
How much is a monthly mortgage payment?
That depends on the cost of the property and the interest rate of the mortgage. There are websites with mortgage calculators.
What are the disadvantages of a variable interest rate mortgage?
A variable interest rate mortgage is one where the amount of interest being charged may change during the course of the mortgage depending on the current interest rates, but the usually monthly payment remain the same. The disadvantages of this type of mortgage is that if interest rates go up more of the monthly payment goes towards paying the interest instead of the principal, taking longer to pay off the mortgage. If rates go to high, the monthly mortgage payment may go up, this is rare however.
What Is Variable Mortgage used For?
Variable mortgage is used for things that involve mortgage such as a house. Every time the prime rate changes, so does the mortgage, therefore the mortgage is variable.
What does a mortgage payment cost?
A mortgage payment depends on several main things: -How much your house is worth -How much you put down for your house -Your credit approval -The type of mortgage plan you chose, usually 15 or 30 years
What are mortgage payments?
They are payments you make on your house loan every month. If you are looking for specific mortgage payment amounts, there are many calculators out there to use. I will include one in the related links. Payments can be fixed or variable depending on the terms of the mortgage. In some instances there might be a balloon payment at the end of the term.
Are fixed or variable interest rates for mortgages better?
For the average person, a fixed mortgage is better because you can budget for the same mortgage payment for the term or length of the mortgage. The only change would be if your insurance or taxes would go up. With variable interest rate, your mortgage could increase every year due to the increased interest rate.
How much does it cost to refinance a mortgage in California?
The cost to refinance a mortgage in California is going to depend on a variety of factors including down payment, cost of the home, financial credit score, the lending market and rates.
What information is needed to used the Bank of America mortgage rate calculator?
The information needed to use the Bank of America mortgage rate calculator is the price of the mortgage (or cost), the percentage of the cost that will be covered by the down payment, the term of the mortgage (in years), and the state in which the applicant lives.
How do you estimate mortgage payment?
The easiest way is to use a website that has a mortgage calculator on it. You should be able to get an accurate estimate and make adjustments to interest rate, loan terms, etc to see how the payment and cost change.
How can a mortgage loan calculator be useful?
Like other types of payment calculators, a mortgage calculator is helpful to determine the exact cost and the monthly payment of a mortgage. It is helpful because good calculators can help determine costs based on the life of the mortgage as well (i.e. 20 versus 30 years).
Balloon payment you have a balloon mortgage payment and you lost your job how can you get help?
I have a balloon mortgage payment and i lost my job how can i get help
