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Mortgage Maze |
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Terminology |
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Calculate Your Payment The amount of your mortgage will depend on how much you borrow, the term (repayment period) of the loan and the interest rate. If you know how much you need to borrow, (the purchase price minus your down payment), and the interest rate, you can use this chart to calculate your monthly principal and interest payment plus property taxes and insurance. % Interest P&I Cost per Thousand 5 1/2 5.98 5 3/4 6.15 6 6.32 6 1/2 6.49 7 6.66 7 1/4 6.83 7 1/2 7.00 7 3/4 7.17 8 7.34 8 1/4 7.52 8 1/2 7.69 8 3/4 7.87 9 8.05 Mortgage payments listed above are based on a 30 yr standard loan |
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Ask your agent to explain these terms: Pre-qualify Pre-approved ARM Fixed Rate 15 Year Mortgage 30 Year Mortgage 20 Year Mortgage Amortization Buy Downs PMI Private Mortgage Insur Sales Contract Earnest Money Loan Closing Ratified Contract Escrow Account Buyer's Agent Title Possession Contingency Settlement Loan Origination Credit Report Appraisal Fee Discount Points Hazard Insurance Prepaid Items Recording Fee Survey Home Inspections Termite Inspections Mechanics Liens Property Owners Assoc Condominium Assoc P & I Principal & Interest |
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Calculate Your Monthly Payment: Monthly Principal & Interest From Payment Chart ________ Add Monthly Real Estate Tax________ Add Monthly Insurance ________ Total Monthly Payment ________ |
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Capital Relocation Group "Relocation...Real Estate & More" |
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CRG Departments Relo Move Tools |