If I want to take out a mortgage with 6.5% for 200k. even though the mortgage calculator states?
October 21, 2007
BR asked:
that I am paying 568k over 30 years… would I be paying only 200 if I make a few payments and then pay it all off in cash? In other words, am I only paying principal if in a year I decide to pay off my loan or am I obligated to paying the remainder of the interest even though I don’t have a loan anymore?
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that I am paying 568k over 30 years… would I be paying only 200 if I make a few payments and then pay it all off in cash? In other words, am I only paying principal if in a year I decide to pay off my loan or am I obligated to paying the remainder of the interest even though I don’t have a loan anymore?
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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.