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REFERENCE
Part of purchasing a home starts
with how much would my payments be if my interest
rate was...
Listed below is a monthly payment
amortization chart that will allow you to determine
your payment, BASED on the loan amount. This table
is easy to use. Please feel free to download this
file or print out the amortization chart and carry
it with you as you look to purchase your new home!
Loan Amount is $125,000,
8% Interest Rate for 30 Years
Multiply 125.0 x 7.34 factor for 30yr Term @ 8%
= Principal and Interest
125 x 7.34 = $917.50 for P and I... Don't forget
to add taxes and Insurance
To determine the monthly principal
and interest payment, find the interest rate you
want to have, find the correct multiplication
factor in the column for either 15, 20, or 30
year amortization, and then multiply the loan
amount by that factor!
The information in the chart will
help you determine only part of the payment each
month. Don't forget to add the monthly expenses
for Real Estate taxes and Insurance.
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