An appraisal is a review and estimate of a property’s fair market value. An appraisal is conducted by a state-licensed […]
Loan Amount ($): 0
Down Payment (%): 0
Interest Rate (%): 0
Period in Years : 0
Total you will repay 0
Down Payment 0
Total Interest 0
Per Installment 0
| Original Loan Amount $224,000.00 |
Down Payment 10 % |
Interest 5.5 % |
Term 15 Years |
| Total you will repay $201,600.00 |
Down Payment $22,400.00 |
Monthly Payment (P & I) $1,647.24 |
Total Interest 180 |
Since Principal and Interest are not the only factors of a loan we should include an estimate for other costs involved with a loan.
Your down payment was less than 20% of the loan, which means you will be paying PMI. This averages around $55.00 for every $100,000.00 borrowed. An estimate for PMI will be around $110.88 per month. An average tax figure for your purchase might be about $10.00 for every $1,000.00 assessed value per year. If the assessed value of your home is 85%, this would make your homes assessed value $190,400.00 and your monthly tax around $158.67 Homeowners Insurance is another factor of a loan. An average estimate of your monthly insurance could be about $56.00| # | Per/Month | Principle | Interest | Balance |
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An appraisal is a review and estimate of a property’s fair market value. An appraisal is conducted by a state-licensed […]
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