What would be my mortgage payments on $160,000 home (interest only/Conventional 30 year fixed)? - fixed home interest rates
Hoem want an investment that is offered to buy me $ 160,000. I have excellent credit (credit score of 798). My plan is to remove this house back in the Detroit area. I can afford to put down 10%. Will my mortgage payments per month provided for the payment of interest and only 30-year conventional fixed payments.
Thank you!
Saturday, January 9, 2010
Fixed Home Interest Rates What Would Be My Mortgage Payments On $160,000 Home (interest Only/Conventional 30 Year Fixed)?
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2 comments:
What interest rate?
Currently at 5.25%, which would be about $ 700
http://finance.yahoo.com/rates/result?t = ...
10% down on a house of $ 160,000 leaves you with a mortgage of $ 144,000.
30 years@5.5% * $ 144,000 = $ 817.62/month.
The interest paid on the first installment is $ 660 and $ 157.62 for the most important issue.
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