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BabyAvocado
Happy New Year
Member since 5/05 17334 total posts
Name:
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How do you calculate the mortgage payment?
I want to know the formula to do it myself, not using an online mortgage calculator. I feel so dumb that I don't remember how to do this! 
For example: $250,000 mortgage at 6.5% = ?
Principal & Interest only payments is what I'm looking for. TIA!
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Posted 5/25/06 12:27 PM  |
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danielleandscott
My new 71 Super Beetle
Member since 5/05 13476 total posts
Name:
Scott
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Re: How do you calculate the mortgage payment?
I will check my real estate book and get back to you
Message edited 5/25/2006 12:41:15 PM.
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| Posted 5/25/06 12:40 PM |
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luvsun27
Check out my cool glasses
Member since 5/05 8135 total posts
Name:
Kim
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Re: How do you calculate the mortgage payment?
I *think* you need an armatorization (sp?) calculator...do calculate the interest.
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| Posted 5/25/06 12:52 PM |
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schnapy
LIF Adolescent
Member since 9/05 766 total posts
Name:
Diana
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Re: How do you calculate the mortgage payment?
you could get an approx # for every 100k you borrow its about $650.
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| Posted 5/25/06 1:29 PM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: How do you calculate the mortgage payment?
Go to preferredempire.com. They have a mortgage calculator on the website.
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| Posted 5/25/06 1:46 PM |
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BabyAvocado
Happy New Year
Member since 5/05 17334 total posts
Name:
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Re: How do you calculate the mortgage payment?
Okay - I figured that part out. Now how do you figure out the APR? Again, not looking for an online calculator. Is there a formula in Excel that works?
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| Posted 5/25/06 1:48 PM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: How do you calculate the mortgage payment?
Posted by BabyAvocado
Again, not looking for an online calculator. Is there a formula in Excel that works?
Sorry! I didn't see that part.
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| Posted 5/25/06 2:42 PM |
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MrsSchwags
Soccer Baseball Lax Mom
Member since 10/05 11240 total posts
Name:
Jennifer
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Re: How do you calculate the mortgage payment?
bankrate.com usually has mortgage calculators
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| Posted 5/25/06 2:45 PM |
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wilandnet
LIF Infant
Member since 9/05 224 total posts
Name:
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Re: How do you calculate the mortgage payment?
Try this:
http://www.mortgage101.com/partner-scripts/1216.asp?p=cheyennehomes
or
http://www.mtgprofessor.com/formulas.htm
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| Posted 5/25/06 3:17 PM |
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