Home Value Calculator Do You Have To Pay More Than Twice The Value Of A Home On A Mortgage?

Do you have to pay more than twice the value of a home on a mortgage? - home value calculator

Rookie Question Sorry, but I never exhaled, questions about how much it costs, a mortgage of 30 years ready for a $ 300,000 house. Some people believed that with a deposit of 10% and the monthly payment would still be provided up to $ 1800 per month, a decent credit and a fixed interest rate of 6.5%. Running that through the computer, which means you pay almost $ 700,000 in total during the term of the mortgage of 30 years. Is this the case?

10 comments:

Carol said...

Just to pay more when you borrow to purchase 20,000 dollars from the bank, a car, simply to pay more when buying a loan of U.S. $ 300,000 a house.

Remember, a loan of $ 300,000. If the bank loan was not this huge amount of money that could put that money into an investment somewhere and have won both (or more) for more than 30 years.

If you receive a bank with a $ 300,000 zero-interest can, then you would pay $ 300,000.

Good luck.

loanmast... said...

It is a very good question. They talk of interest paid during the term of the loan. When most real estate buyers will see this number in the Statement of Truth in Lending, in shock.

Do not let the big numbers scare you have to pay this interest during a period of one year. If you sell, repurchased or refinancing of the property that you no longer pay the interest more.

If you and ask for a mortgage interest is usually explained by the approved mortgage advisor. Once you opt for a mortgage other important document that should be seen) as the Good Faith Estimate (GFE.

The lowest number of years required to repay the mortgage interest would be less, however, increase the monthly installments on.

Course that would interest you pay is usually a deductible item on its federal income tax.


For tax and legal issues you should consult your tax advisor and attorney.

I hope this was of some use to you, good luck.


"Combat"

philosph... said...

That is very true. However, depending on the look like you. Are you at home for 30 years? If you sell, the loan must be paid to the period, and you need not worry about the rest of the interest. If you intend to stay for the rest of his life, additional payments, which will cover the most important, and reduce the total interest paid. The following link is a nice calculator, the result, which shows the additional payments on the mortgage.

Doctor Deth said...

In principle, yes.

when there were 300,000 in your account you can invest in stocks and make 8% a year, and someone asked if we could borrow 300,000, buy a house, he pays for them and only hope to repay over 300,000 next 30 years? - It lost about $ 24,000 in investment income in the first year. "In addition to the loss of purchasing power to inflation

steveko7... said...

--- True fear, but that the price to pay so much money for so much time .. If you are looking to borrow's - I want a large payment or a way to find short-term and long-term saving money ... If somewhere on the way home can you lose in value --- the captain on a sinking ship.

David Z said...

Yes it's true. If you make a 15-year loans at much less. Your payment would be around $ 2400, but only $ 430,000 would be paid during the term of the loan.

30-year mortgage is damn near location. receives very little benefit for the first 10 years or less.

~Mama-o... said...

Yes, doubling the time to get a mortgage of 30 years you will pay. We want to buy a house for $ 103, 000, and end up paying more than $ 200,000 in total. Thus, travel and financial institutions in the economy.

KJ said...

It's true ... But if you plan to pay to rush home and live forever, it makes little sense for a loan of 15 years.

Geoff B said...

Not if you win the lottery

Geoff B said...

Not if you win the lottery

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