2006-11-10 16:45:42 · 2 answers · asked by Cynthia C 1 in Business & Finance ➔ Credit
On a thirty-year term, the principal & interest payment would be $1,239.92. Don't forget to add taxes & insurance to the equation when determining what is affordable for you. And, keep in mind, if its affordable, and you'll be in the home long term, consider a 20-year term at $1,461.74 a month PI.
I use a financial calculator, but here's a site you can use to run a bunch of different scenarios...
2006-11-10 17:23:05 · answer #1 · answered by abcdgoodall 4 · 0⤊ 0⤋
I assume that your length of the loan is 360 months (30 years x 12 months). If so then your Principal and Interest would be $1,276.55 not including taxes if they are escrowed or hazard insurance which would be about $40.00 additional.
You can get a financial calculator at Wal Mart's or Radio Shack. I use TI BAII Plus.
Good luck
2006-11-11 02:57:30 · answer #2 · answered by teenriodoll 3 · 1⤊ 1⤋