How do I  calculate a mortgage?
405838
If the loan is only $45000 and you want the payments under $600, first I would want to know if the taxes and insurance are included in your $600 payment.  Otherwise, it depends on you.  A 45,000 loan for 30 years at 15.8% is only $597.89 monthly.  That is a really high rate by today's standards.  A 12% rate, not bad for owner financing, is $462.88 monthly over 30 years.\n13.0% = $497.79\n12.5% = $480.27\n12.0% = $462.88\n11.5% = $445.63\n11.0% = $428.55\n10.5% = $411.63\n10.0% = $394.91\nHope this helps...
106386
you can use an amorization chart to recalculate or check out any refinancing website and use their mortgage calculator...remember your tax shelter will be affected,too
313147
That's a tough question.  First you need to figure out the cost of ownership.  Look in your neighborhood to find houses that interest you.  You can find the estimated value via http://www.zillow.com.  Once you know the price range, you can use the mortgage calculators http://www.realestatejournal.com/toolkit/mortgagetools/ to figure out what's a comfortable payment for you.\n\nFrom the calculators, you'll know how much down payment you need.  Depends on how much you can invest each month, the time it takes to save up that down payment would be different for everyone.  Invest the monthly amount religiously in an investment account such as sharebuilder.com or vanguard.com.  Be sure to buy a diversified mutual funds or ETFs, not individual stocks. (see here for why not http://spaces.msn.com/lin-lulu/Blog/cns!1p8hwCeTt0Flht2sgPBzXFdQ!384.entry) \n\nIncrease the amount to invest every time you receive a bonus or a raise.
477463
First decide how long you plan to keep the house.  Is it for 5 years or for 25 years ?  If you plan to keep the house for a long time the traditional 30 year mortgage is the way to go.  Many people keep their first houses less than 5 years when most of the payment is interest.  if that is the case a 5 year adjustable rate mortgage (arm) is best. But when taking out this type, do a worst case scenario i.e. if itcould increase 2% for example, run the numbers and make sure you can make the payment.\n\nNo matter which you choose, make sure your credit score or fico score is as high as it can be.  You should be able to get this on line.  If you have a high score --over 700- your rate will be lower than a low score 500 -- and you will pay much less in interest. If your score is not high, try to pay off your credit cards and after that charge a very small amount , $50 a month a pay it off in full each month.\n\nBuy an easy to read book on mortgages like Mortgages for Dummies and try to understand it well.  There are literally 100 or more mortgages to choose from and it is very complex.  The mortgage broker wants to sell you one and not necessarily educate you forthe one best for you. Buyer beware.\n\nIf you belong to a credit union, it will offer some very good rates.  Try that first. \n\nFinally shop around and check programs at various places and ask, ask , ask if you do not understand.  One time a mortgage broker tried to sell me a mortgage that appeared to be $500 less a month than any other.  I asked how that was possible and she said they $500 would just be added to my principal mortgage.  In other words at the end of a year my mortgage would be $6,000 more and after 5 years it would be $30,000 and of course my monthly interest payment would go up.  Notice she did not offer to explain this . \n\nGood luck and rememeber ask, ask ,ask  until you are sure you understand what you are getting
753849
Usually the amount you can borrow is around 2.5 times your salary, or in your case you and your friend's salary combined\n\ne.g. if you earn 40,000 between you, you can borrow 100,000\n\nYou need to go to the bank and ask for advice, and they will give you details of which mortgage will suit you best. Then you can shop around and try and get a lower interest rate!
657411
You need to go and talk to a Mortgage Broker.  Any loan officer worthy of the name can easily assess your situation in short order.  STAY AWAY from anyone who is going to charge you fees up front (with the exception of the fee for pulling your credit bureaus.)
873720
Just phone up any mortgage company and ask them. If they don't do it themselves they might know who will.\n\nJems xXx
84661
and here is another....you can do prepayment savings analysis on this one too!!  Enjoy\n\nhttp://www.jeacle.ie/mortgage/
123039
No, that's not possible.  Even if you paid 0% interest, that would take 87 years, 6 months to pay back.\n\nA $420,000, 30-year fixed rate mortgage should be just a little over $2500/month today.\n\nFor comparison, my $90,000 mortgage is over $600/month.
947774
Go down to the county assessor.  They have this information.  If you have a friend who works in a Mortgage or Escrow office, you can have them run this for you as well.
651929
Loan amount = L\nInterest    = I\nTaxes       = X\nInsurance   = N\nTerm in Yrs = T\nPayment     = P\n\ntherefore: P = (((L * (I/12)) + L) /(T/12)) + X/12 + N/12
453687
If at all possible get a fixed rate. When considering a bank(or any entity) for your mortgage the rate should not be the only consideration. There are a number of fees, some normal some junk, that are added to the cost of the loan. Compare and make a judgment based on all the factors.
176150
There are actually three variables that go into determining wht your interest rate will be Fico Score, Debt-to-Income Ratio and Loan-to-Value.  You can get a mortgage with any score.  Even sub 500 scores.  You might qualify for a loan now with your score but the interest rate is going to be higher.  If you are willing to pay the price I would say go for it and allow your mortgage payment history to build up your score.
339953
Call a random mortgage company and ask them this question.
769918
Apparently some mortgages are now based on affordability, ie you show them what all your outogings are and they assess what you could comfortably pay. So if you're single and don't have children, you might be given more. Also if you have no other debts this will help too.
939815
There is NO optimal time to payoff a mortgage.  You are charged interest every single day that you have the loan.  The interest rate is calculated based on the current balance....until it's paid off.
411899
Hi-- I posted this on your other question also: \n\n http://www.dinkytown.net/\n\nI use their calculators to figure out how far ahead I am when I make extra principal payments on my mortgage, but they have over 250 types of calculators for all sorts of financial scenarios.