With a mortgage of $234,000 at 5.75% with 17yrs. left on the note, what will my pay off be after 9 years?
Answer:
Without knowing the original term you can't make the calculation.
However, go to this site which will show you exactly what the payoff will be after 9 years. All you need to do is key in the numbers, dates, rate and check off that you want to show the detail info.
http://www.hsh.com/calc-amort.html.
Bingo,. you got it!
You don't say if the original term of the loan was 17 years of if that is the current term remaining. If it is a new loan amortized over 17 years, the payment is $1800.13/month. After 9 years the balance will be 138,258.78.
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