2006-06-26 06:34:33 · 9 answers · asked by Jason 1 in Business & Finance ➔ Personal Finance
You'll probably pay between £800-£1000 a month. Times that by 12,then times that by 25. Around £270,000 to repay !
2006-06-26 06:43:41 · answer #1 · answered by dontdoweekends 5 · 2⤊ 1⤋
A lot depends on how much you put down for a down payment. If you put down less than 20% you will pay an additional $100 - $200 per month in mortgage insurance. This is insurance you pay that protects the bank and not you.
Principle Loan Balance: $150,000.00
Annual Interest Rate: 6.5%
Amortization Length: 25 years
Monthly Payment: $1,012.81
Average Interest each Month: $512.81
You also have to consider that you will be paying property taxes, home insurance and possibly mortgage insurance. To check on property tax rates in your area contact your local County Tax Assessor.
Oh, I just noticed that you used pounds rather than dollars. The data I gave is for how it works in the states at our current interest rates. Go online to a mortgage calculator for your area and you can find out what you need.
2006-06-26 06:42:41 · answer #2 · answered by TMH 4 · 0⤊ 0⤋
Go to one of the many mortgage lenders website's and use their mortgage calculators. Alternatively if you are based in The West Midlands, The East midlands , Bristol or the surrounding region visit http://www.mortgagesfgoryou.org and fill int he contact form and one of our staff will try to help you out.
The amount depends on the mortgage type, the rate you get, your deposit, your income and loads of other factors. As a guide I'm paying £570per month on a repayment mortgage over 20 years, but I know people paying more on less and paying less on more!
2006-06-26 06:40:05 · answer #3 · answered by sirdaz_uk 3 · 0⤊ 0⤋
This is in the UK. At the moment if you wanted to borrow 100% a rate of 5.75% would cost £705 p.m. interest only. Or 95% borrowing with a deposit of 7,500 at 4.94% would cost £586.63. These rates depend on clean credit. Hope this helps
K
2006-06-26 08:12:21 · answer #4 · answered by MSMORTGAGE 3 · 0⤊ 0⤋
Extrapolating from my mortgage value & payment (reasonable interest rate) I reckon about £900 a month.
2006-06-26 07:46:36 · answer #5 · answered by Rust Bunny 2 · 0⤊ 0⤋
roughly between £500 - £700 depending on rates, repayments, deals, etc
2006-06-26 07:34:40 · answer #6 · answered by want_to_explore_life 3 · 0⤊ 0⤋
Impossible to answer, as you forgot to mention the interest rate.
2006-06-26 06:38:17 · answer #7 · answered by NC 7 · 0⤊ 0⤋
roughly 830 ,at a rate of 6.2 interest rate
2006-06-26 06:42:46 · answer #8 · answered by shoopy213@yahoo.co.uk 2 · 0⤊ 0⤋