Archive for the ‘mortgage interest calculator’ tag
Mortgage Interest Calculator
If I want to take out a mortgage with 6.5% for 200k … although mortgage calculator states?
I will pay 568k over 30 years … I would be to pay only 200 if I make a few payments and then pay it all off in cash? In other words, I only pay principal if in a year I decide to pay my loan or am I required to pay the remainder of the interest of although I do not have a loan anymore?
Yes you are correct. With a regular impairment loan when you make a payment each month goes to some interest and some principal. If you want to pay the loan in full, you will only pay the outstanding principle. For example you borrow 200K. After 2 years, your balance is around 198k (EST). If you want to pay it off in full, would you pay 198k.