How do you figure amortization by hand, without the help of a mortgage calculator?
August 23, 2008 · Print This Article
alison a asked:
Is there a formula that I could simply plug the numbers into that would give me the amount of the payment for $137,500 with a 5.25% interest rate for 30 years?
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Is there a formula that I could simply plug the numbers into that would give me the amount of the payment for $137,500 with a 5.25% interest rate for 30 years?
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Josh Dunaway has been a certfied Realtor in the suburban Chicagoland area for over 20 years. Aside from starting his own real estate company, he also owns a mortgage company as well.
You need a mortgage calculator. the payment is $759.28 that doesn’t include taxes and insurance.
There is a formula, but I don’t remember what it is. But, if you can get that loan at that interest rate over 30 years, TAKE IT! That is a great deal.