Q: If I buy a house in Maine for $320,000 with a 7% interest rate for 30 years, what will my monthly payment be? What about at 8% interest for 15 years?
A: To start with direct answers to your questions, a $320,000 mortgage at 7% over 30 years would yield a monthly payment of $2,128.97. A $320,000 mortgage at 8% over 15 years would yield a monthly payment of $3,058.09.
Click Here to Read: Translating Mortgages Into Monthly Payments...
Translating Mortgages Into Monthly Payments
Thursday, June 3, 2010
Labels:
Closing Costs,
Consumer Credit,
Credit Score,
Mortgage Rates,
Mortgages
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