169,000 morgage at 5.5 apr for25YRS?
Answer:
What calculations?
Where ever you got the quote or Whoever quoted you that rate should be able to explain the program to you.
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That is your question right?
I use Karl's Mortgage Calculator for these types of questions.
Monthly payments would be $1037.81
Your total interest making the minimum payments would be over $142,000
If the fees are added to the loan then it may be slightly more per month but on the figures you give it will be £774.58 as an interest only payment or £959.56 as a capital and interest payment.
Repayment mortgage will cost you £1037.81 per month.
Interest Only will cost you £774.58 per month
these are at 5.5%
is that the best rate available.would you like to see if we can get you a better quote.
Your monthly payment would be $1,038 plus your taxes and home owners insurance.
30 Year Term
Loan amount $169,000.00
Annual interest rate5.500%
Loan period in years30
Start date of loan9/1/2006
Monthly payment $959.56
Number of payments360
Total interest $176,442.83
Total cost of loan $345,442.83
20 Year Term
Loan amount $169,000.00
Annual interest rate5.500%
Loan period in years20
Start date of loan9/1/2006
Monthly payment $1,162.53
Number of payments240
Total interest $110,007.09
Total cost of loan $279,007.09
You can download Loan calculator from
http://office.microsoft.com/en-us/templa.
you got a good deal there.
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