gave 12,500.00 for home, paid 1,000.00 down, payments 250.00 a month for 7 years, 9% interest.. i need to know about what my payoff would be..
2006-10-08 03:15:55 · 5 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Well, $11,500 @ 9% for 7 yrs (84mo) only requires a monthly payment of $185.03. So, is the extra $64.97 going to an escrow account for taxes and insurance? Or, are you putting the extra amount toward the principal? And what exactly are you wanting to know. If you mean "how much is still owed", then you need to say how many payments you have already made (and if all $250 is going against the mortage).
If you mean how much total principal and interest will you pay:
then $15,541.86 if $185.03 is going toward it for the full 84mo.
If you are actually paying $250 toward the mortage, it would be paid off at the 57th payment (4yrs, 9mo), and total $14,157.04
Then add the $1000 of your downpayment for the total cost.
2006-10-08 05:33:07 · answer #1 · answered by veritas 5 · 1⤊ 0⤋
you're entitled by law to a free credit report...your loan for the mobile home will be shown, with the amount still owing stated as well. Sorry bout previous wrong site....www.annualcreditreport. this site wont let me add dot com at the end.
2006-10-08 03:21:56 · answer #2 · answered by Anonymous · 0⤊ 3⤋
Go to www.dinkytown.net
they have many financial calculators so you can do that equation and also play around with many different scenarios and see how different approaches would play out finacially.
2006-10-08 03:48:42 · answer #3 · answered by Anonymous · 0⤊ 0⤋
http://finance.yahoo.com/loan/mortgage/calculators_index
2006-10-08 03:23:15 · answer #4 · answered by Life after 45 6 · 1⤊ 1⤋
About $22,000 not counting taxes or insurance..
2006-10-08 03:21:23 · answer #5 · answered by Bawney 6 · 0⤊ 3⤋