Interest Rates, Terms, Total Financed Amount

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Presentation transcript:

Interest Rates, Terms, Total Financed Amount

Mortgage 1 Home Price-$150,000 Percent Down- 3% Total Down Payment--$4,500 Total Financed- Annual Interest rate- 4.50% Term-30 years Monthly payment- Total payment- Total Interest paid- 150,00-4,500=145,500 $737.23 $265,402.80 $265,402.80-145,500= 119902.80

Mortgage 2 Home Price-$150,000 Percent Down- 3% Total Down Payment--$4,500 Total Financed- Annual Interest rate- 4.75% Term-30 years Monthly payment- Total payment- Total Interest paid- 150,00-4,500=145,500 $759.00 $273,240.00 $ 273,240.00-145,500= 127,740

Mortgage 3 Home Price-$150,000 Percent Down- 3% Total Down Payment--$15,000 Total Financed- Annual Interest rate- 4.75% Term-30 years Monthly payment- Total payment- Total Interest paid- 150,00-15,000=135,000 $704.22 $253,519.20 $ 253,519.20-145,500= 108,019.20

Mortgage 4 Home Price-$150,000 Percent Down- 3% Total Down Payment--$4,500 Total Financed- Annual Interest rate- 7% Term-30 years Monthly payment- Total payment- Total Interest paid- 150,00-4,500=145,500 $968.02 $348,487.20 $348,487.20-145,500= 202987.20

Mortgage 5 Home Price-$150,000 Percent Down- 3% Total Down Payment--$4,500 Total Financed- Annual Interest rate- 4.50% Term-20 years Monthly payment- Total payment- Total Interest paid- 150,00-4,500=145,500 $920.50 $220,920.00 $ 220,920.00 -145,500= 75,420

Mortgage 6 Home Price-$250,000 Percent Down- 3% Total Down Payment--$9,000 Total Financed- Annual Interest rate- 4.50% Term-20 years Monthly payment- Total payment- Total Interest paid- 250,00-9000=241,000 $1524.68 $365,923.20 $365,923.20-241,000= 124,923.20

Mortgage 7 Home Price-$150,000 Percent Down- 3% Total Down Payment--$4,500 Total Financed- Annual Interest rate- 4.50% Term-15 years Monthly payment- Total payment- Total Interest paid- 150,00-4,500=145,500 $1113.07 $200,352.60 $200,352.60-145,500= 54852.60

Mortgage 8 Home Price-$250,000 Percent Down- 3% Total Down Payment--$9,000 Total Financed- Annual Interest rate- 4.50% Term-15 years Monthly payment- Total payment- Total Interest paid- 250,00-9000=241,000 $1843.63 $331,853.40 $ 331,853.40-241,000= 90853.40