it is a repayment fixed over 30 yrs on 130,000 is this normal
2006-09-29 06:10:59 · 10 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Looks like you got a 6.25 rate - a 6.35 at 130,000 comes to 800.44 per month P/I (Principal and Interest) at a 30 year fixed is very good. Did you want to escrow your taxes and insurance into your payment? If so, contact your lender and some companies will let you set up a escrow with them. But, if you are good and putting money back, set up your own savings accoutn (call it household account) and put aside each month the amount needed to cover your homeowners insurance policy premium and your property taxes. And let YOUR money draw interest.....at the same time.
Another thing to remember - Go to your local court house and file for any and all mortgage exceptions you can get - this will lower your property taxes - For exampel, in Indiana, there is the Homestead tax credit, Mortgage Exception Credit, and if you are a Veteran - there are credits for that too - check it out - ok -Take in your Mortgage Note, as proof that you have a mortgage...
Just a reminder, you will get a 1099 INT form, for interest you paid each year at tax time, you can take that off if you go 1040 long form.
2006-09-29 09:24:36 · answer #1 · answered by W. E 5 · 0⤊ 0⤋
That's about what my mortgage payment is on the same amount with a fixed rate without insurance or taxes. Mine is $1,168.00 - which is just about 800 pounds.
2006-09-29 06:21:08 · answer #2 · answered by tristanrobin 4 · 0⤊ 0⤋
That means your interest rate is 6.25% if that is a principle and interest payment. Awsome rate if it's a 30 yr. fixed mortgage!
2006-09-29 06:13:05 · answer #3 · answered by KL 5 · 0⤊ 0⤋
Possibly a bit high, do a search for a mortgage calculator and check it.
2006-09-29 06:14:03 · answer #4 · answered by John S 4 · 0⤊ 0⤋
It sounds about right,what happened to the saying it's cheaper to buy then rent,I'm seriously getting fed up with my mortgage I'm selling and I don't know weather to bother getting another one.
2006-09-29 06:23:03 · answer #5 · answered by MANC & PROUD 6 · 0⤊ 0⤋
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2016-12-04 00:58:35 · answer #6 · answered by Anonymous · 0⤊ 0⤋
It looks quite high but when you actually work out the rate its not too bad
2006-09-29 06:18:55 · answer #7 · answered by Lou 3 · 0⤊ 0⤋
If you refi to an Interest Only payment you may save a few $$
2006-09-29 06:21:45 · answer #8 · answered by a 1 · 0⤊ 2⤋
Sucked in for thirty years?
2006-09-29 06:19:28 · answer #9 · answered by psychoticgenius 6 · 0⤊ 0⤋
More or less
2006-09-29 06:14:24 · answer #10 · answered by Well, said Alberto 6 · 0⤊ 0⤋