how do i calculate cost per $1000 financed for a mortgage if i know the rate and term?
111334
If you are looking for interest only, here is the formula:\n\n((Loan Amount) x (Interest Rate))/12 = Monthly Payment.\nIf you are looking for fully amortized, the best way to do it is find a mortgage calculator on the internet.  \n\nMy website has one.  http://www.eastbaylending.com
191033
The following  link will help you out. It has many different calculators on it pertaining to home buying. It gives you "How much can I afford" and "How much can I borrow" info as well as things like "Rent vs. Buy" options.\n\nGood luck with your home search!!
239189
It's not easy, and without more information I cannot give you direct advice. But visit the mortgage Professor - you'll find a link to his website on mine.\n\nSee source pages below.\n\nGood luck!
165316
So what if the rate in the 9th year is 5% and then the rate in the 15th year is 15% and all other 10%?\n\nUh oh......\n\nUse a spreadsheet program and you can investigate differences much more easily.
253370
APR is the true cost after adding all the closing costs and fees  Posted rate is what the base loan is figured at before you add all the fees you can't pay cash for and then finance it for a bizillion years of interest
85567
Use this calculator, http://www.dinkytown.com/java/MortgagePayoff.html\n\nThe site has all kinds of different financial calculators.
486285
If u hav 10% interest to be paid then the total amount u will hav to pay is $22,000.00 coz 10% of 20,000 is 2,000.\nNow out of which u hav already paid $7,000 so the remaining amount to be paid=22,000-7,000=15,000. If u pay $400/month then the total no of months for which u hav to pay your loan=15,000/400=37.5 that is u will hav to pay $400/ month for 37 months and in the last month u will hav to $200. It will approximately take 3yrs and 2 months to pay your loan.
1050038
p = principle\nr = interest rate per period(as a decimal)\nIf the rate is 6%(0.06) a year paid every month\nr =0.06/12 =0.005\nn = number of payments\n\nmonthly payment = p*r/(1 -(r+1)^(-n) )\n\nIn your example\nr =  16/1200 = 0.013333...\np =100000\nn =60\n\nmonthly payment = 100000*0.013333/( (1 -1.013333)^-60)\n= 2431.81
64993
If it is a compounding interest, use this formula: $X x (1+interest rate)^Period. For your eg, if you are referring to 5% per annum, the answer is: $150 x (1.05)^(420/12) = $827.4, i.e. 5.516 times your original capital.
158774
if it is as i understood\nyou borrow =$10 000\nits profit during one year =$10 000* 0.09 (9%)= $900\nafter one year you must pay= $10 000+$ 900=$10 000 * (1.09)\n\nsimilary for the second year =$10 000*(1.09)^2\nsimilary for the third year =$10 000*(1.09)^3\n\nafter ten years=$10 000*(1.09)^10=$23 673.6367\n\nThe rule F=P*(1+i)^n\nF:Future Value Of Money\nP:Present Value Of Money\ni:Interest Rate During Certain Period (e.g. one year)\nn:Number Of Periods (e.g. ten years)
721568
OOh! I've got a great website for this. Go to www.dinkytown.com and there are calculators for everything! You can use the mortgage calculators to find out payment amounts, how much you can afford, etc. there's hunreds of different ones. While you're there check out the other calculators like the one where you find out how much you need to save to be a millionaire by a certain age! You'll love it!
21381
Check bankrate.com you can compare interest rates and companies without applying to any. Good reference site for mortgage and finance stuff
699894
I am in the real estate business. You can reasonably figure $100 of monthly cost per $10,000 that you are borrowing. This figure includes typical costs of insurance as well. For example, a $75,000 home will run you about $750 a month on a thirty year loan, and that includes your homeowners insurance payment.
206298
Depends entirely on your lender, in terms of fees, prepays of interest, which loan term you choose, whether you go through a broker or direct lender, etc.  Ask around, get some offers, and compare.  Also, they should tell you how long it will take you to recoup the cost of the refinancing--and you can consider whether or not you'd still be living in the house at that point, or will have sold it.
1146788
The formula for compound interest calculation is  \nFuture Value = Principal (1 + monthly interest rate*12/100 )^no. of years\nHence $100 would become = 100(1+ 1.67*12/100)^5\n= $ 100(1+20.04/100 )^5\n= $ 100 ( 1.2004)^5\n= $ 100 * 2.4924697\n= $ 249.25 (rounded to two decimals)
580744
Calculating the Effective Annual Rate\n\nBasic Financial Calculator Suppose that you have determined that the monthly rate of return on a certain investment is 0.21307991 (%). That's the monthly rate. You can multipy that number by 12 to get the nominal annual rate of about 2.55696%. But suppose you would like to know the effective annual rate (EAR)?\n\nThe effective annual rate is the annual interest rate that would yield the same result if interest was compounded annually rather than monthly.\n\nThe formula for calculating the equivalent annual rate from a monthly rate is\n1 + EAR = (1 + MR)^12\nor\nEAR = ((1 + MR)^12) - 1\nwhere EAR is the effective annual rate and MR is the monthly rate and both numbers are expressed as absolute decimals (rather than as percentages).\nPrepare the calculator\n\nIn order to work through the following example, you should prepare the calculator by first tapping the CLR key and then tap\n0 . 2 1 3 0 7 9 9 1 Enter +\nAn Example\n\nSuppose that you have calculated a monthly interest rate of 0.21307991% using your basic financial calculator. The first step in converting this to an effective annual percentage rate is to convert the monthly rate from a percentage to an absolute rate. Divide the percentage rate by 100 to convert to an absolute (fractional) rate. Tap\n1 0 0 /\nThe number that is displayed on the screen should now be 0.0021307991. The next step is to add one and then raise the result to the 12th power. Tap\n1 + 1 2 y^x\nThe number is now 1.0258714. Subtract one to get the absolute (fractional) rate, and then multiply by 100 to convert the fractional rate to a percentage. Tap\n1 - 1 0 0 X\nThe answer is 2.58714%.
839154
Whoa!\n\nAs a former mortgage firm owner, here is the correct answer to your question:\n\nAs a cost to you, one point equals one percentage of the loan.  (If you pay one point on $100,000, you PAY $1,000 to the lender)\n\nWhen points are used as discounts, you are basically paying the lender to decrease your interest rate for the period of the loan.  If you have a 30 year fixed loan, you will pay the lender "points" to secure a lower interest rate.  For example, when you pay "one point", your total overall interest rate may be decreased by .25%.  So instead of paying 6.25%, you will only be paying on 6.00%.\n\nWhat this means:  You save .25% interest over the entire course of the loan.  On $100,000 loan, this would save you $16.17 per month on your loan.  Multiply this monthly savings by 30 years, and you will save $5,821.\n\nPaying points, if you are going to hold onto the mortgage, is generally always a good idea.  \n\nThey key with paying points is to determine how long it will take to recoup your investment.  In our example, if you save $16 per month, it will take you 5.15 years to recoup the $1,000 you paid in "points".\n\nIf you want to calculate your own savings, you'll need a mortgage calculator (free on the web) to find the savings in mortgage interest rates.  Simply punch in the before and after rate scenerios and compare the difference in payment.  Then divide that amount into how much the "points" are going to cost you.  The number will be how many months you will need to wait to recoup the investment.  Divide by 12 to determine the years.\n\nYou can also forward this to your broker and ask him/her to come up with a list of point options and their expected recoup time for each.\n\nAs a mortgage broker, I always recommended paying points if I had customers savvy enough to understand them.  Overall they are a good deal.  Simply make sure your "discounted" rate isn't the regular rate offered somewhere else.  In that case, the "buydown" is just going into the pocket of the broker.\n\nBest of Luck.