|
|
Additional Resources
|
|
What Is A Mortgage Calculator?
By Maksim Fisher
A mortgage calculator is a wonderful tool that you should use anytime you are considering the purchase of a home. Because a home is likely to be the largest and most costly of investments that you Read more...
|
|
|
|
Virtualsoftnet Heading....
Below, you'll
find extensive information on leading loans mortgage articles and products
to help you on your way to success.
Understanding Bi-weekly Payment Mortgage Calculators
By Dennis Estrada
Are you looking to pay off your sooner without additional lump sum payment? Your lender allows you to pay a certain percentage once or twice in a year. Usually, the lender allows 20% of the principal. For example, your principal amount sums up to $100,000. You can pay up to $20,000 of additional lump sum payment. Sometimes, lump sum payment can be hard on your pocket. You might consider bi-weekly payment. In a bi-weekly plan, you make additional lump sum payment on a regular basis on a smaller amount.
You pay every two weeks rather than every month. You make 12 payments for monthly payment in a year, while you make 26 payments for bi-weekly payment in year. Since you make more payment, you put more money to reduce the total amount. For example, you pay $1,000 per month in a monthly payment plan. In a bi-weekly payment plan, you pay $500 every two weeks.
Let's put what we learn to work. To calculate your bi-weekly payment, calculate your monthly payment. Divide your monthly payment by 2. Suppose you want to know the monthly payment for a 30 year for $150,000 at 5% interest rate. Rate equals .00417 which is interest rate divide by twelve months, while number of payments equals 360 (30 years X 12 months). You pay $402.62 every two weeks.
Here is the actual bi-weekly payment calculation:
= ([P(1 + r)nr]/[(1 + r)n - 1])/2
= ([$150,000(1 + 0.00417)360 0.00417] / [(1 + 0.00417)360 - 1])/2
= (2797.92 / 3.47) / 2
= 402.62
Since you pay $402.62 every two weeks, you save 4 years 9 months, and $25,767.44.
California Mortgage Refinancing - California Refinance Rates
Avail the benefits of California mortgage refinancing. Also find how to secure best California home mortgage refinance rates which helps you find the best mortgage solution for your home financing needs to fit every situation.
California Home Mortgage Loan Refinance : California Home Loan Refinance
Lowest rates available on California home loan mortgage refinance and refinance your mortgage while rates are low. Get California Home Interest Loan Refinance quotes online.
California Adjustable Rate Mortgage Loans: ARM Loans CA
In California adjustable rate mortgage loan (ARM) programs, the risk of fluctuating interest rates is shared equally between the borrower and the lender.
California Bad Credit Mortgage Loans
Bad credit OK! Find California mortgage loans to purchase your home, consolidate your debts-even save you from the edges of bankruptcy-and get yourself on the path to financial freedom.
California FHA Loans : California FHA Home Loans
California FHA home loan is the best way to finance your home. Find how to secure best terms on California FHA home loans with a reliable lender.
Additional
Resources
Watch That Mortgage
By Charles michael Challiner
Bank of England interest rates have been steady since August 2005 and even that move was southwards. Why then are thousands of mortgage customers up in arms about an unexpected and unwelcome increase Read more...
|
Additional
Resources
Foreign Mortgages. New Horizons?
By Charles michael Challiner
There has been a tremendous boom in overseas property ownership. Whether for personal use as a family, holiday or retirement property or as an investment property, the market shows no sign of slowing Read more...
|
We strive to provide only quality articles, so
if there is a specific topic related to mortgage that
you would like us to cover, please contact us at any time.
And again, thank you to those contributing
daily to our loans mortgage website.
California Mortgage Refinancing - California Refinance Rates
Avail the benefits of California mortgage refinancing. Also find how to secure best California home mortgage refinance rates which helps you find the best mortgage solution for your home financing needs to fit every situation.California Home Mortgage Loan Refinance : California Home Loan Refinance
Lowest rates available on California home loan mortgage refinance and refinance your mortgage while rates are low. Get California Home Interest Loan Refinance quotes online.California Adjustable Rate Mortgage Loans: ARM Loans CA
In California adjustable rate mortgage loan (ARM) programs, the risk of fluctuating interest rates is shared equally between the borrower and the lender.California Bad Credit Mortgage Loans
Bad credit OK! Find California mortgage loans to purchase your home, consolidate your debts-even save you from the edges of bankruptcy-and get yourself on the path to financial freedom.California FHA Loans : California FHA Home Loans
California FHA home loan is the best way to finance your home. Find how to secure best terms on California FHA home loans with a reliable lender.
|
|
